Choosing Between an HRA and HSA: Reducing the Cost of Employee Benefits
The cost of employee health benefits is rising at an exponential rate. As an employer, you may be searching for ways to control costs while at the same time being able to offer your employees a benefit. Tax-advantaged benefit accounts represent a compelling way to help offset the increase in your employees’ out of pocket health care responsibilities. Health Reimbursement Accounts (HRAs) and Health Savings Accounts (HSAs) will not only empower your employees to save for their cost of care and better manage their healthcare spending- every dollar an employee contributes will reduce your payroll tax liability. Click here to learn about the differences between an HRA and HSA.