Business Health Savings Account
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Healthcare costs are on the rise making it a challenge to provide an attractive benefit package to your employees. A Health Savings Account (HSA) from State Bank & Trust Co. combined with a High Deductible Health Plan from your insurance provider can reduce healthcare costs, and provide a tax-advantaged, lifetime medical savings account for your employees.
Benefits of Owning an HSA
Affordable:
You and your employees will pay less for insurance premiums and can share healthcare benefit costs if enrolled in a High Deductible Health Plan (HDHP).
Simple:
We work directly with your employees to set-up and manage the account so it will be seamless for your company.
Flexible:
Contributions can be made by your business or the employee. If your business contributes, it must do so in equal amounts to all employees.
Value-added:
HSAs are an easy way to provide added value to your benefits package that will attract new and retain current employees.
Tax Savings:
There are potential tax benefits; consult your tax advisor for details.
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State Bank & Trust HSA Features
- No Set Up Fee
- Interest Earned Monthly with a Tiered Rate
- Free 1st Debit Card
- 2nd Debit Card $15.00
- Free Online Statements
- Free Online Access
- Semi-Annual Maintenance Fee $5
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How to get started:
- Contact your insurance provider about a HSA-qualifying High Deductible Health Plan.
- Determine if you will be contributing to your employees' HSAs. Direct deposit is available.
- Arrange an orientation session for your employees with a State Bank & Trust Co. HSA expert.
- Employees visit State Bank & Trust Co. and set-up their accounts or apply online.