Member Benefits

Take Control of Your Health-Care Dollars With a Health Savings Account

Five reasons to consider health savings accounts:

  1. Health savings account-compliant health insurance lowers your monthly premium. The average savings over traditional health insurance plans is 42 percent—sometimes more.
  2. Health savings accounts give you all of the advantages of a 401(k) with one important plus: You can take money from the account—tax-free—to pay for qualified health-care expenses. See how health savings accounts stack up against 401(k) and flexible spending accounts:

    3.   Health Savings Account 401(k) Flexible Spending Account Health Reimbursement Account
    Pre-tax contributions Yes Yes Yes Yes
    Tax-free earnings on investment options Yes Yes No No
    Can roll over year-to-year Yes Yes No Yes
    Company contributions Yes Yes No Yes
    Savings for retiree health Yes Yes No Yes
    Portable, employee-owned Yes Yes No No
    Tax-free withdrawals for qualified health-care expenses Yes No Yes Yes

  3. One-hundred percent of what you spend from your health savings account is never taxed. What’s this worth to you? See what the savings are, based on your income (33 KB, PDF).
  4. And since you pay the negotiated fee determined by your insurance carrier, your health-care dollars buy more care.

    You can even spend your health savings account dollars on certain qualified expenses not normally covered by health insurance, such as glasses. Review a list of qualifying expenses (201 KB, PDF).

  5. Unless you've selected an insurance program with co-pays, once your out-of pocket health-care expenses reach the annual deductible, your health insurance then pays 100 percent of covered expenses, including medication and office visits, up to a lifetime maximum of $8 million.

As a member of NFIB, now is the time to take control of your health care expenses by enrolling in an NFIB Health Savings Account and health savings account-compliant health plan.

Interested in learning more on how an NFIB Health Savings Account-qualified health plan can save you, your family and/or employees an average of 42 percent?  Call (888) 488-6266 today. A licensed NFIB health benefits representative can answer your questions, as well as develop a free, no-obligation quote for you.