Health Savings Account Employee Plans
Help Employees Save for Medical Expenses
Great employers offer great benefits. A Health Savings Account (HSA) Plan from ENB is a benefit you can offer employees at little cost. It helps your employees save for qualified medical expenses like copays and prescriptions through pretax payroll deductions. Employer contributions to employee HSAs are also generally excluded from federal income tax, Social Security tax, and unemployment taxes*. For employees to qualify, your company must offer a qualified high-deductible health plan.
Your HSA plan comes with an ENB Relationship Manager who will answer any questions you or your employees have. Friendly, real-time customer service support is only a call or click away.
Employee Benefits:
- Pre-tax HSA contributions lower taxable income saving your employees’ money
- No taxes on the account’s growth*
- Annual rollovers allow unused savings to accumulate for future expenses
- Withdrawals for eligible expenses are tax free*
- Withdrawals for medical expenses can be paid out of this account even after employees reach age 65 and are enrolled in Medicare
- No required distributions at age 70 ½ like other retirement accounts