Giving employees more control of their healthcare spend through HSAs paired with a qualified high-deductible health plan (HDHP) allow employers and their employees to make pre-tax contributions to an FDIC-insured savings account. (*) (**)
*Part of the HSA “triple-tax advantage”: Pre-tax contributions, tax-free interest and investment earning, and tax-free withdrawals for qualified expenses
**ESG is not an investment advisor, plans are professionally managed mutual or ETF funds or self-directed accounts at Charles Schwab
The IRS released 2024 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits, and more as part of Revenue Procedure 2023-24. These limits undergo annual adjustments to account for inflation.
A Health Savings Account (HSA) is a tax-advantaged medical savings account specifically designed for individuals enrolled in a qualifying high-deductible health plan (HDHP). HSAs provide individuals with the opportunity to save and invest funds for healthcare expenses while enjoying tax advantages.
ESG offers a comprehensive solution for Health Savings Accounts (HSAs), allowing you to discover their benefits and create a customized and streamlined HSA offering. With ESG's guidance, you can explore the possibilities and understand how HSAs can benefit your organization.
ESG provides a user-friendly platform and mobile app for participants to effortlessly manage their funds and cover medical expenses. Similar to the matching concepts 401(k) plans or customizable allocation. Participants also have complete control over their HSA investment strategy, with access to a wide selection of funds and free trades. ESG's mobile app allows participants to manage their HSA on the go. Additionally, ESG provides tailored HSA packages for partners, consultants/brokers, employers, and participants, ensuring a simplified and personalized experience for all.
The contribution limits for Health Savings Accounts (HSAs) are set by the Internal Revenue Service (IRS) and can change from year to year. These limits are designed to ensure that HSAs are used primarily for covering healthcare expenses, and they include both individual and family contribution limits. The limits are typically adjusted annually to account for inflation.
1. We customize your HSA offering to align with your requirements
2. Streamline onboarding and account management for every HSA
3. Leverage state-of-the-art HSA investment technology
4. Simplify administration for employers of all sizes
5. Personalize the experience for HSA participants, catering to their unique needs and preferences