Capital Region Benefits
3819 Market Street
Camp Hill, PA 17011
Phone: (717) 975-9300 Fax: (717) 975-9303
Health Savings Accounts (HSA)
An HSA plan offers an opportunity to purchase a lower-premium plan with the ability to couple that plan with a savings mechanism to achieve long-term consumer-driven behavior when employees purchase medical services. The key to successful implementation of an HSA plan is education. Capital Region Benefits will not only help you select the right plan and benefit levels, but we will educate you, your employees, and families on how the plan operates.
HSAs must be combined with a qualified high deductible health plan
HSAs allow the consumer to use tax-free money to pay for health expenses that are applied to the deductible amount
HSAs act like investments. The owner of the account determines the funds into which their money is deposited
HSA accounts have annual contribution limits imposed. However, account owners 55 years and older are allowed to make “catch up” contributions.
Money in an HSA account is owned by the account owner. The money travels with the account owner should s/he change jobs
Anyone can contribute to another person’s HSA account
Reimbursement from an HSA account has no time limit, but expenses must be legitimate and receipts maintained.