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Spread the Word About Additional HSA Contributions

InterWest Insurance Services

Funds in HSAs can be used to pay for a myriad of out-of-pocket medical-related expenses, pharmaceuticals and medical devices. They are only available to employees enrolled in a high-deductible health plan. Withdrawals to reimburse for these expenses are also not taxed. Not everyone is eligible to participate in an HSA.

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Report Details 3 Trends Driving Employers’ Health Care Costs

InterWest Insurance Services

One such employee enrolled in one of your group health insurance plans can result in massive costs that overshadow those of the rest of your workforce if you are a small or mid-sized employer. As a result, demand for these pharmaceuticals has boomed, but not all health plans cover them.