02/25/2009
HSAs offer a smart way to invest in good health
Enrolling in a high–deductible health plan that qualifies for a Health Savings Account allows members to set aside tax–free money that can pay for current or future health care expenses or accumulate for retirement. An HSA is a tax–advantaged account that uses pre–tax contributions to pay for qualified medical expenses. Qualified medical expenses paid for out of the HSA count toward the members' annual deductible.
Regence HSA Healthplan members are usually eligible for an HSA if they are:
- Enrolled in an HSA–qualified high deductible health plan
- Not covered by another non–HSA health plan
- Not enrolled in Medicare
- Not claimed as a dependent on someone else's tax return
HSA contributions can also be invested* to potentially earn tax–deferred gains.
Regence has partnered with three well–established financial institutions—HSA Bank, US Bank and Wells Fargo—to offer members more choice of banking options for their HSA needs. Employers who select one of our partners can expect to receive superior service and support aligned with Regence performance standards.
Information about each of the partner banks is available in Agent Center. Our Marketing Development Financial Services team manages the relationship between Regence and each partner bank. We're continually looking for opportunities to improve our members' experience with each partner, and we strive to bring you the most up–to–date information available about each bank.
We recently added a fees comparison document to Agent Center to help you quickly identify cost and fee variances among our three partner banks.
If you have any questions, please talk to your Regence Sales contact or a Regence Marketing Development Financial Services team member.
* Investments are not insured by the Bank, FDIC, or any other government agency.
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