Health Savings Accounts (HSA) are a cost-effective way to add to your employee benefits package. They can be opened by your employees to make tax-advantaged contributions. The funds can then be withdrawn by them, tax-free, for qualified current and future healthcare expenses not covered by insurance.
Here are all the benefits your employees can receive as a result of having a high deductible health insurance plan:
KeyBank HSAs are fully integrated with our payroll, direct deposit, and checking account services.
Save on fees
If your business uses Key’s business checking account services, setup, monthly maintenance, and annual fees for the HSA are waived.
Your company’s contributions to your employees’ HSAs are tax-deductible.
KeyBank is a local HSA custodian, and can provide on-site enrollments and presentations.
Accounts are accessible through ATM network, mobile and online banking.
Access to a dedicated KeyBank HSA call center.
To participate, an employee must:
- Be enrolled in a high-deductible health insurance plan (HDHP)
- Not be covered by another health insurance plan, except what is permitted (see IRS Publication 969 for more information)
- Not be covered by Medicare
- Not be listed as a dependent on someone else's tax return
Visit the HSA product page for complete details.
HSA specialist General Inquiries
*See IRS Publication 502 for a detailed list of qualified medical expenses.
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