Benefits of an HSA
A Health Savings Account (HSA) from MVFCU is a tax advantaged medical savings account that your employees own. It is a great way for individuals and families to cover the out-of-pocket costs of medical and health-care expenses.
Unlike similar types of accounts, HSA funds are not lost at the end of the year. Unspent balances remain in the account, earning dividends, until they are spent on medical care.
How an HSA Works
- Your employees can enroll in a qualifying, high-deductible health plan (through an insurance company) and then open an MVFCU HSA for them.
- Your employees then use their HSA funds to pay for expenses incurred before their health plan deductible is met.
- The HSA may also pay for services not covered by the health plan, including: office visits, COBRA coverage during periods of unemployment, medical expenses after retirement and long-term care expenses—to name just a few.
Save Money on Employee Healthcare
Give your employees access to additional medical expense coverage with a Health Savings Account.
Refer them to MVFCU Virtual Community Office at 1-907-745-4891 or have them visit the nearest MVFCU Community Office.