There are three types of accounts used to pay for medical expenses: a health savings account, or HSA, a health reimbursement arrangement, or HRA, and a flexible spending account, also known as an FSA.
These accounts are part of what's called consumer-directed healthcare. They offer:
- Potential tax savings by being tax exempt or tax deductible
- More control over healthcare costs
- Lower healthcare costs
We can help you decide which is best for your business and employees. Connect with us.