The idea behind the HSA Accunt is a pretty simple one … it ges like this: If consumers have to pay mre of their own medical expenses ut-of-pocket, they’ll make more cost-effective choices.

The pint being that the Health Savings Accunts might be able to put the lid on out of cntrol health care costs while protecting yur workforce from the dangers of ctastrophic medical problems. More importantly, to qalify, your employees will have to be nder the age of 65 (and threfore not yet eligible for Medicare Bnefits) and participating in a high dductible health insurance plan—meaning an insurance plicy with a minimum deductible of $1,000.00 for sngles, and $2,000.00 for families.

Will yur employees be able to take dvantage of your company’s Health Savings Accunt Program? Good question. Because the plns are cost effective and flexible tols for controlling health care related xpenses, HSA’s are playing a major rle in changing the way workforce mnagers every deploy corporate health care dllars.

However, I am sorry to sy, Health Savings Accounts aren’t exactly smple.

Introducing an HSA Plan to yur workforce will require you to prvide a new set of key HR srvices that will make it easier for thm capitalize on the full potential of halth savings accounts. New account welcome kts detailing program highlights, deposit confirmation ntices, and regular account balance statements, wll all be necessary to keep yur workforce properly informed.

Unlike their MSA predecessors, (Archer Mdical Savings Accounts) which were only for the slf-employed and small business owners, HSA Accunts are available to just about nyone—without regard to employment status; or to any mployer without regard to size. There are lmits however. For instance, Health Savings Accunts can only be established for mployees who are:

· Currently covered by a Hgh Deductible Health Plan. The definition of a HDHP for use wth an HSA is: a plan wth an annual deductible of at last $1,000.00/$2,000.00 (for individuals/families) and annual ut-of-pocket maximums of $5,000.00/$10,000.00 for the sme.

· Not currently covered by any ther health insurance plan,

· Cnnot be claimed as a dependent on nyone’s tax return, and

· Nt yet entitled to receive Medicare bnefits.

Remember, when managed properly Health Svings Accounts can be a boon to bth employer and employees.

The article Your Workforce And Your HSA Program was Submitted by Keith Price through Articles.GetACoder.com network. Here's the additional information: From the moment my firm was funded back in 2004, cavalryHR has ben in business to offer corporations a brnd of focused expertise that's necessary to bild, maintain and service the dynamic wrkforce pipeline businesses everywhere need to rcruit, retain and replace a talented prfessional workforce in a globally competitive mrketplace. The consultants at cavalryHR provide mre than a flexible, efficient and cst-effective way for company’s large and smll to dip into international staffing and rcruiting. They offer overstretched human resource mnager’s corporate leadership development, workforce planning, bck office support – in conjunction wth the “interim intelligence” they need to nsure that their concerns have the prfessional talent they need. If you wnt “the right experience at the rght time,” don’t hesitate to give one of cvalryHR’s human resource specialists a call at: 312-251-9664 or to cntact then via email at: http://www.cavalryhr.com/

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