Small business

Health savings accounts (HSAs)For small businesses

Health savings accounts (HSAs) are employee-owned personal savings accounts, which can be funded by an employer, an employee, or both. They can only be offered in conjunction with a federally qualified high-deductible health plan (HDHP).

Employees contribute to HSAs through payroll deduction, check, or online transfer. Contributions are tax-deductible, and distributions are tax-free when used to pay for qualified medical expenses. Interest and earnings are also tax-free.1

Under an HSA arrangement, an employee owns the account — so if he or she changes jobs, the account goes with that employee. Employees can even use their HSA as an investment to help cover health care costs in their retirement years.

The BlueSaver HSA Solution

Our BlueSaver HSA Solution is closely integrated with our medical products and services to ensure a seamless experience for your employees — to help them take full advantage of their health plan benefits.

The BlueSaver HSA Solution offers employees all the advantages of an HSA, along with claim and payment integration to make account management easy. This integration creates a one-of-a-kind experience for our members, while also assisting them in becoming more informed health care consumers.

Learn more

Refer to IRS Publication 969 for more information about HSAs. Refer to IRS Publication 502: Medical and Dental Expenses for a complete list of qualified expenses.

Contact us

For more information about the BlueSaver HSA Solution, contact your Independence account executive, independent broker, or consultant — or call 215-241-2263.

1 Tax savings are at the federal level. State tax policies vary.