HSA Trustee Services offers Small Businesses Section 125 Plan with HSA Enrollment
"Helping small businesses understand Health Savings Accounts has always been a specialty of HSA Trustee Services", said Viki Morales VP of HSA Trustee Services. "We show businesses how to set up Section 125 plans so they can do pretax payroll deductions from the employees for insurance premiums and HSA contributions. Both the employer and employee will save money on payroll taxes."
Lake Geneva, WI (PRWEB) June 6, 2007 -- HSA Trustee Services a nationwide provider specializing in opening Health Savings Accounts/HSA for small groups, is offering a free Section 125 plan with the HSA module that allows the HSA savings component to be pre-taxed for employers.
"Helping small businesses understand Health Savings Accounts has always been a specialty of HSA Trustee Services", said Viki Morales VP of HSA Trustee Services. "We show businesses how to set up Section 125 plans so they can do pretax payroll deductions from the employees for insurance premiums and HSA contributions. Both the employer and employee will save money on payroll taxes."
Setting up a Section 125 POP with the HSA module allows business owners to save matching Social Security (FICA), as well as federal unemployment taxes (FUTA) and generally, state unemployment taxes, on the money employees contribute to their premiums as well as the HSA savings component. Employer tax savings can average 7 to 10 percent. In California and several other states the Section 125 payroll deductions reduce the threshold on which workers compensation premiums are levied for even more savings to the employer
Employees realize savings in their FICA, federal, and, in most cases state income taxes. An employee who pre-taxes his HSA savings component through the Section 125 plan, funds his account tax free or pretax instead of funding it with after tax dollars outside the group and later writing it off his taxes at the end of the year. This method saves the employee 22.65% to about 40% depending on his or her tax bracket.
For more information on how your company can take advantage of this Section 125 with the HSA module contact HSA Trustee Services 866-HSA-2010, www.hsaTrusteeServices.com
About HSA Trustee Services:
HSA Trustee Services is an nationwide provider specializing in opening Health Savings Accounts (HSA) for individuals, families and groups since the inception of the HSA program in January 2004. If you would like more information on this program, or the other benefits of using HSA Trustee Services, please call 866-HSA-2010. HSA Trustee Services, dedicated to "Keeping the $avings in the Health Savings Account".
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