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HSA Day 2021- How Health Savings Accounts Are Beneficial to Employers & Employees

No matter your experience with Health Savings Accounts (HSAs), HSA Day 2021 has something for you! Wex Health will be hosting its annual HSA Day virtual event on National HSA Awareness Day, Friday, October 15. This annual event is a day to learn about the value HSAs can bring to employees. We’re inviting you (and your HR team!) to celebrate HSA Day.

We’re bringing healthcare benefits and financial experts together with the public to discuss the power of healthcare savings accounts and why they’re the most convenient, flexible, and reliable way to meet your healthcare and savings goals.

What is an HSA?

An Health Savings Account is a tax-advantaged savings account for those enrolled in a high-deductible health plan (HDHP). With an HSA, you can take the money you’re saving by having a lower deductible and set it aside tax-free into an account. The money in the account can be spent tax-free on a variety of health-related expenses, including routine checkups, dental care, vision care, Prescriptions, and even over-the-counter items such as cholesterol monitors, diabetic testing supplies, medicines, and first aid products.

An HSA is owned by the employee, and any HSA balance rolls over from year to year. Therefore, you never have to worry about losing it. After your account reaches a designated balance, you can invest some of the money to grow it even faster and build a nest egg for your family’s future.

How To Participate

Register for one or both of the SHRM-certified webinars:

Listen to the HSA Day episode of Benefits Buzz on October 15. Subscribe now to be alerted when the episode goes live! Podcast guests include:

  • Johnny C. Taylor – President & CEO of SHRM
  • Jennifer McClure – CEO of Unbridled Talent & Disrupt HR
  • Stefanie O’Connell Rodriguez – host of the Real-Life podcast “Money Confidential”

Why you should join us

Mark your calendar for our informative live-streaming HSA Day event now! You’ll learn how an HSA can benefit you and your family. It can help you plan for retirement, and meet your financial goals. You will:

  • Learn how to manage health-related out-of-pocket expenses HSA
  • Find out how to prepare for unexpected healthcare costs
  • Get tips on planning and saving for retirement

These resources will help your HR team better educate employees about their benefits, which means fewer emails, IMs, and knocks at HR’s door. See you Friday, October 15!

Pre-tax plans such as an FSA, HSA, or HRA reduce taxes for both the employee as well as the employer. It’s a “win-win”!  Learn more about how Payroll Systems can seamlessly integrate pre-tax benefits into its payroll service to help you empower your workforce.

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This article provides general information and shouldn’t be construed as legal or HR advice. Since employment laws may change over time and can vary by location and industry, please consult a lawyer or HR expert for advice specific to your business. You can also contact Payroll Systems to inquire about our HR support services.