Harris Health Savings Accounts:
A Remedy for Rising Costs

A Winning Combination
Selecting a high-deductible healthcare plan from your insurance provider is an important first step in making healthcare more affordable. When employees link these policies to individual Harris Health Savings Accounts (HSA), they can reduce their out-of-pocket expenses and better control how they manage their healthcare costs. For your employees, an HSA lets them:

•	Make tax-free deposits into an interest-bearing account
•	Save for future healthcare expenses
•	Help lower total healthcare costs by funding out-of-pocket expenses with pre-tax earnings

HSA also give you the ability to make periodic, tax-free matching contributions to employee accounts if you choose to help employees defray out-of-pocket costs.

Protect Your Bottom Line — And Your Employees
A high-deductible healthcare plan (HDHP), combined with Harris HSA, offers your business a rich mix of benefits — enabling you to reduce expenses while giving your employees the protection they need.

Affordability. Healthcare premiums can decline with HDHP — a savings for both you and your employees. HSA enhance this savings with tax deductible contributions, earning competitive interest rates, and growing tax free.

Employee retention. Because HDHPs supplemented with HSA are often more affordable for employees than standard plans, they can help create a competitive advantage and increase employee retention.

Portability. Unlike flexible spending accounts, HSA have no “use it or lose it” provision. Employees can keep contributing to their accounts year after year, even if you change to a different qualified health insurance plan. And if you change to a non-qualified plan, employees can still use the balance they have accumulated to fund future healthcare expenses.

Greater choice. Employees can use tax-free savings to pay for healthcare treatments that may not be covered by standard health plans. They can also choose to direct their healthcare dollars toward preventive programs that improve their health and quality of life. Healthy employees who file fewer claims can also lead to lower future insurance premiums.

Simple Enrollment and Administration
Harris HSA are well-suited for expense conscious businesses and time challenged business owners, because they’re easy to open and simple to administer.

Enrollment. HSA are opened by individual employees. Applications are quick and accepted online at www.HarrisHSAEnrollment.com. Please note that employees who do not choose HDHP coverage cannot participate in your company’s HSA program.

Deductions. Employees designate how much they wish to deposit and can contribute directly to their own account. Or, based on your company’s payroll system, the designated amount can be deducted from their paychecks automatically on a pre-tax basis.

Company Contributions. If you choose, your company can make tax-free contributions to your employees’ HSA. Additionally, to help manage your cash flow, company contributions can be made as an annual lump sum or periodic payments.

Communication. The Harris team is available to help you explain this new program, so employees understand all the benefits of HSA.

Account management. Employees administer their own claims and make disbursements for qualified medical expenses via online bill payment or with the Harris HSA MasterCard^® debit card. Also, online access provides up to date information on balances, deposits, and withdrawals.

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