In the changing world of health insurance, you need solutions that help you retain employees while also cutting expenses. A Health Savings Account (HSA) is a tax-free way for employees covered by qualified high-deductible insurance, or a HDHP, to put funds aside for anticipated healthcare expenses. It strengthens your benefit offerings while giving them peace-of-mind.
Benefits for you
- No payroll taxes on employee HSA contributions made through payroll deductions
- Federal income tax deduction for contributions you make to your employees’ HSAs
An attractive benefit
An employer-sponsored HSA is part of a competitive benefits package that can help you attract and retain employees.
We offer onsite services and ready access to HSA specialists to help you fully understand the benefits of your HSA program. We’ll be there before, during and after enrollment to ensure that all of your questions are answered.
Benefits for your employees
Advantages of a STAR Bank Health Savings Account:
- Competitive interest rate
- $4.00 monthly maintenance fee is waived when you sign up for STAR's free Online Banking
- Monthly e-mail with a direct link to your HSA online statement where you can check your contributions and distributions, and view cancelled check images.
- Free STAR Online Banking also gives you fast access to your HSA records, making it easier to prepare your taxes.
- If you change employers, your HSA moves with you.
To learn more about making STAR Bank your HSA partner, talk to your insurance provider or contact one of our business bankers today.