Making Changes to Your Employee Benefit Program?
Consider the Heath Savings Account Option at Region I
A Health Savings Account (HSA) offers employees a tax-advantaged way to save and pay for eligible out-of-pocket healthcare expenses.
- It is an individually owned and portable account.
- It allows both employer and employee contributions
- Funds can be used at any time to pay for eligible medical expenses, or withdrawn at age 65 for any purpose with no penalty.
- It can also be used by your dependents, and passed along to beneficiaries in the event of your death - a good option for estate planning.
Why Choose an HSA with Region I?
- Cash balances are FDIC insured by our trustee, Avidia Bank.
- Competitive interest rate is paid on all cash balances
- Participants have access to their own web portal
- A variety of disbursement options are available – debit card, checkbook, direct pay, or transfer HSA funds directly to your personal checking or savings account.
- Low monthly account maintenance fee of $1.00
- Investment options. To start investing, only a $1,000 HSA balance is needed. And if you maintain a $3,000 cash balance in your HSA, the monthly investment account maintenance fee is waived! Almost unheard of in today’s HSA environment.
Interested in what Region I has to offer? Contact us for a no obligation cost proposal. We provide employee group presentations.