Look out for your employees with an HSA.

ARE YOUR EMPLOYEES QUALIFIED FOR A BUSINESS HEALTH SAVINGS ACCOUNT?

An employee will qualify if she/ he is:

• An adult covered under a “high deductible health plan” (HDHP)?
• Not in an insurance plan that has co-pays or a plan that pays anything prior to their deductible amount
• Not claimed as a dependent on someone else’s taxes (minors, college students)?
• Not eligible to be enrolled in Medicare

WHEN AND WHAT TYPES OF CONTRIBUTIONS ARE ALLOWED?

Each year, the IRS sets a maximum amount allowable to contribute to your HSA. Visit the IRS website for information.

• Employees can make tax-deductible contributions to their HSA whether or not their deductions are itemized (any time during the current year and between January 1st and April 15th for a prior year).
• If the employee has an HSA account in a different bank, they can also make a rollover contribution once per year into their First Bank of Berne HSA account.
• As an employer, you can make contributions that are not taxed to the employee or to the employer.
• Anyone may make a contribution on behalf of an eligible individual, and the person receiving the contribution (account holder) gets the tax credit.
• Direct transfers between financial institutions can be made without restrictions.

HSA Features:

• Free HSA debit card
• Unlimited Check writing
• Free Online Banking
• Free E-Z Access Telephone Banking
• Account Earns Interest
• Direct Deposit Contributions
• AFT Contributions