Health savings accounts (HSAs) offer many valuable benefits to participants. However, many employees do not fully understand how HSAs work and may be missing out. In fact, it is estimated by the Flexible Benefit Service Corporation that 40-50 percent of HSA-eligible individuals do not have an HSA.
One reason for the underutilization of HSAs may be that employees do not understand the value that HSAs offer. In addition, some may assume that HSAs are the same as flexible spending arrangements (FSAs), except that they are tied to a plan with a higher deductible. Read More
