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Can business health ins. be cancelled & pay employee monthly payment (HSA)?

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Junior Member
What is the name of your state? Idaho

My premium for my health ins. increases every year, it would make more sense to me to have that amount paid to an employee Health Savings Account. There would be some optical, dental and even some OTC product not included in our coverage now. Using it "as needed." There are 11 of us, the company pays 100%, and even so, I still am concerned about the cost. In addition, I would like to help save them money. I know major med. is a concern as well. Maybe pay the bare minimum w/ the HSA? However, is it possible for the company to be able to do that? I would ask our rep. but that would “cut him” out and I know that is how he makes his money having our policy. Thanks in advance. Ms Bob


Not totally sure I follow you, but here goes any way . . .

You cannot have an HSA unless you FIRST establish a qualified HDHP (high deductible health plan) with an insurance carrier. It is permissable for an employer to make contributions to the HSA on behalf of employees as long as it is done in a non-discriminatory method.

Your rep is (I assume) a licensed health insurance agent. If he/she is knowledgable about HSA plans they should be able to assist.

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