Human Resources
Health Savings Accounts (HSA)

Health Savings Accounts (HSAs)

What is an HSA?

In short, it’s a savings account employees enrolled in high-deductible health plans (HDHP) can leverage to help manage their health care spending (such as doctors’ visits, co-payments, and prescriptions). By making pre-tax payroll contributions to an HSA, employees can make the most of the valuable benefit while helping to keep a lid on rapidly escalating health care costs.

How exactly do employees benefit from an HSA?

  • Contributions are 100% tax deductible
  • Convenience of payroll deductions
  • Tax-free withdrawals to pay for qualified medical expenses
  • Employees maintain full control over the funds
  • Contributions roll over year after year and interest earned on account balance is tax-free

So, what’s the benefit to the employer?

  • Employees are actively engaged in managing and optimizing health care spend
  • HSAs are standard in competitive health care plans and help to attract top talent
  • No payroll tax on employee contributions

Why Aon?

  • 170 funds available for employees who want to expand and grow their investment dollars
  • Fully integrated HSAs - Aon owns the payroll and funding reconciliation process, protecting the integrity of HSA data
  • Health plan agnostic - HSA plan doesn't have to change even if your health plan does
  • Dedicated account team to manage implementation and provide ongoing support
  • Compliance expertise to assist in making appropriate regulatory decisions
  • Communication solutions to help educate employees navigate and best utilize their plan
  • Innovative website and mobile application to make things easy on the employer and their employees

Through Aon’s solutions you can extend the value of your employees' pay, help ensure they are invested in their overall health and wellness, and empower them to plan for the future.

Contact Us

Learn more about our Health Savings Account Solution.