Health Saving Accounts

Short-Term Healthcare Savings and Long-Term Healthcare Benefits:
London's health savings accounts (HSA) are pre-taxed medical savings accounts that help your employees pay for their healthcare expenses during your plan year, as well as, invest their funds to plan for future medical costs. HSAs are a perfect tool for employers who want to increase the benefits offered to their employees while lowering the cost of their health insurance plan. London takes care of all the enrollment, banking, and claim administration required to operate each account in order to maximize your HSA experience.

The HSAs can be funded by tax-deferred contributions by the employer, and/or pre-tax dollars automatically deducted from your employee's paycheck. Your employee's can use the funds in their HSA to pay for qualified medical expenses, such as, deductibles, copays, over the counter drugs, eyeglasses, etc. Any used funds in the HSA at the end of the annual term will carry over from year to year.

The most unique segment of London's HSA is the ability for the employees to invest portions of their funds into interest-earnings vehicles. Your employees will have the opportunity to invest in mutual funds, money market accounts, and equity funds.

The benefits of implementing HSAs are achieved by both the employer and employee:

Benefits to Employer =
* Decrease health insurance premiums by purchasing a high-deductible HSA compatible health plan from an insurance carrier of your choice.
* Contributions to employees HSAs are tax-deductible
* Improve employee satisfaction * Multiple investment banks options
* Hassle free product implementation and ongoing support

Benefits to Employee =
* Pre-tax funds to help pay for qualified medical expenses
* Unused funds carry over from year to year * Multiple investment vehicles
* Access funds via debit card and manual reimbursement process