HealthPartners EmpowerSM HSA plan Empower
Health Savings Account (HSA) plans offer a way to engage employees in
their health care and encourage them to save money for future health
care needs. What's more, an Empower HSA high-deductible health plan can
deliver immediate cost savings for you and ongoing tax advantages for
your employees.
The Empower HSA plans feature a high-deductible health plan that works
alongside a tax-exempt health savings account. Employers can establish
HSA trust accounts on behalf of their employees, or simply offer an HDHP
that is intended to qualify for an HSA and allow employees to establish
their own HSA's with a trustee of their choice.
Empower HSA plans offer clear advantages.
Call 1-877-800-7340 for more info
- Reduced employer costs. The high-deductible health plan costs less than most traditional plans so employers will see immediate savings and can plan for more long-term savings.
- Reduced insurance premiums. Employers can offer their employees lower premiums for these plans, which are considerably less than standard copayment or low deductible plans.
- Tax savings. Federally qualified HSA contributions can be deducted from gross income on employees' federal tax returns, even if they do not itemize deductions.
- Flexibility. Funds can be withdrawn tax-free to pay for eligible medical expenses now or in the future.
- Long-term savings. Funds left to accumulate in an HSA grow tax-free. After age 65, an individual may make withdrawals for any reason without penalty.
- Portability. The HSA is owned by and remains with the individual, regardless of employment or job changes.
- Large network. The Empower HSA plan uses HealthPartners open access network of 25,000 providers and 173 hospitals. With open access, employees can see any provider without a referral.
Empower HSA Printable
Overview.Empower HSA Tiered Plan Printable
Overview.Learn more about our Wells Fargo partnership.
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