Employers are Turning to Avidia HSAs to Control the Rising Cost of Healthcare

As consumer driven healthcare is on the rise, the demand for HSAs continues to grow. Employers across the country are turning to HSAs to save on monthly premiums and attract and retain employees through affordable, robust benefit packages that let them take control of their healthcare expenses.

Avidia HSAs are easy to open, easy to use, and easy to manage. Avidia provides affordable HSAs while ensuring quality, personalized service.

How You Benefit

Improved Cost Savings

When employees make pre-tax contributions to their HSA, their employer saves. The pre-tax amount is excluded from FICA, Unemployment and Workers Compensation taxes. The more employers encourage their employees to contribute, the more they save.

Affordable Plan Coverage

HSA-compatible health plans provide affordability without giving up coverage, through lower premiums compared to traditional plans, slower premium increases and preventive care often covered at 100% before the deductible is met, with no co-payments.

Increased Employee Health

By pairing an HSA program with a wellness program, employers are able to promote and incentivize better overall health. As employees become healthier, their healthcare utilization decreases.


Employee Engagement

Employees who own an HSA are more likely to be engaged in their health, ask about costs prior to making appointments, seek information about generic prescription alternatives and select lower cost treatment options.

Maximize Internal Resources

The Avidia Health eClaims Manager* is a free service that allows your employees to easily manage every aspect of their HSA, from one place, reducing your HR teams workload.

ADDITIONAL BENEFITS

  • Flexibility in controlling benefit costs
  • Employee retention and attraction

*Avidia Health HSA holders must register in order to use the free eClaims Manager service. While most major insurances are integrated to the eClaims Manager, not all insurances may be available for this product at this time. It is recommended to check the list of insurance providers prior to signing up for these services. If you do not see your carrier, please check back at a later time as the list is continually being updated.

How Your Employees Benefit

Tax Benefits

Contributions to HSAs reduce taxable income. Health Savings Accounts grow in the same tax-deferred manner as IRAs. These funds can be used to pay for qualified medical expenses on a tax-free basis.

Gaining Ownership in Healthcare

HSAs return healthcare ownership to the end-user. The accounts are owned by the account holder and the balances roll over from year to year.

Additional Investment Potential

HSAs provide employees with the opportunity to save for future medical expenses and/or invest for even greater earning potential. Cover Deductibles and Qualified Out-of-Pocket Expenses Account balances can be used to pay for any qualified medical expense incurred after the HSA is opened. Withdrawals used to pay for qualified medical expenses are tax-free.

Take Control of Expenses

The account holder determines which qualified expenses will be paid from their HSA, how they will be paid and when.


Use HSA dollars to Pay COBRA Premiums

Preserve liquidity between jobs or during times of unemployment. Special tax-free withdrawals are permitted.

Purchase Long-Term Care Insurance

Use tax-deferred dollars to plan for long-term needs.

Supplement Retirement Income

Once enrolled in Medicare, the account holder may use HSA balances to pay for out-of-pocket Medicare expenses tax-free, or choose to use HSA balances for non-medical purposes by claiming the amount of the withdrawal as income for tax purposes, penalty-free.


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