Smart Solutions for Employee Health
By combining a High-Deductible Healthcare Plan from your insurance provider with a Health Savings Account (HSA) from Pathfinder Bank, you can help reduce healthcare costs and provide a tax-advantaged, medical savings account for your employees.
Key Features
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Tiered Interest
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No Monthly Service Fees
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Tax Advantages1
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Free Digital Banking
Details
Employee Details
- Pay current medical expenses or save for future needs
- Competitive interest earnings on entire balance
- Tiered interest; higher rates on larger balances
- No monthly service fee; one-time $25 setup fee
- Tax-deductible contributions, tax-deferred earnings, and tax-free withdrawals for qualified medical expenses1
- Funds carry over year-to-year automatically
- HSA stays with you, regardless of change in coverage or employment
- Easy access to funds by debit card, check, or branch visit
- Free digital banking
- $100 minimum deposit to open
Company Details
Consider these advantages of adding Health Savings Accounts to your company’s competitive benefits package:
- Provides significant benefits for employees
- Helps attract and retain staff
- Contributions made to employee HSAs are tax deductible
- Reduces insurance premiums
- Has minimal administrative requirements
1Consult a tax advisor.
Eligibility
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility.
- Must be covered under a qualified, high deductible health plan
- Must not be covered by another type of health plan
- Cannot be claimed as a dependent on another person's tax return
- Cannot be enrolled in Medicare
Please contact your tax advisor for further eligibility requirements.
Contribution Limits
Contribution limits are set by the IRS. Visit irs.gov for current contribution limits and eligibility rules.
Getting Started
Getting started is easy. Simply follow the steps below to add this benefit for your employees.
- Contact your insurance provider to explore High Deductible Health Plans that qualify for an HSA.
- Determine if you will be contributing to your employees' HSAs. Direct deposit is available.
- Meet with one of our dedicated Business Services representatives to discuss the onboarding process, including details on how employees can open their account.