Core Documents Produces Video Explaining Health Savings Account
PR Web |
Core Documents, the nations premier provider of affordable Section 125 Cafeteria and HRA plan documents has produced a new video, "Why Should I Get a Health Savings Account?" This short video is designed to simply explain to employers and employees how a Health Savings Account (HSA) can be used to pre-tax payroll dollars to pay out of pocket medical expenses not covered by health insurance. Employers can use this video to explain to employees how they can make tax-free contributions to their HSA.
Watch the new video: https://www.youtube.com/watch?v=_A9vfbYO-TA
Each year the employer has an open enrollment period where each employee is given the opportunity to decide how much money they estimate they will spend in healthcare, dental and vision care expenses for the coming year. Each employee then elects the monthly amount to be divided into regular payroll deductions and deposited into their Health Savings Account. For many employers the open enrollment begins
An HSA is comprised of two parts. The first part is a qualifying high-deductible health plan (HDHP) insurance policy that covers regular medical and hospital bills. The second part of the HSA allows you to make tax-free contributions to an investment account, retirement account, or HSA bank account from which you can withdraw money tax-free for medical care. The HDHP coupled with a Health Savings Account has increased in popularity as employers search for cost-effective ways to provide tax-free health benefits.
For HSA participants fortunate enough to have an employer with a Section 125 Plan modified to allow HSA deductions, tax-free means the participant avoids federal income tax and FICA taxes, which include
Since 1997, Core Documents has been providing free plan design consulting, as well as cost effective,
The HSA s a tax-exempt trust or custodial account you set up with a qualified HSA trustee. Clients who wish to provide access to their employees' HSA can access state of the art, web-based administration services with a debit card optimized for mobile use, from only
Core Documents' clients include small employer groups, PEOs, national payroll companies, Certified Public Accountants, Third Party Administrators, Agents, Brokers, a network of hundreds of Flex Affiliate websites, and law firms. Core Documents is committed to helping their clients and their employees substantially reduce their income tax liability with compliant Plan Documents that allow them to deduct insurance premiums, out-of-pocket medical expenses, dependent care expenses, and commuter and parking expenses before payroll taxes are calculated.
Visit Core Documents at http://www.CoreDocuments.com for more information.
Read the full story at http://www.prweb.com/releases/2014/10/prweb12210539.htm
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