Are you familiar with Health Savings Accounts (HSAs)? These are accounts that participants, their family members and employers can contribute to on a tax-advantaged basis. Such contributions are considered employer-provided coverage of medical costs and are therefore excludable from the employer’s income. The 2024 limit for employee and employer contributions combined is $4,150 for individual accounts and $8,300 for family HSAs. These limits will rise in 2025 to $4,300 and $8,550, respectively. Note that a business generally can offer an HSA to an employee covered under a high-deductible health plan but no other health insurance. Contact us for specific details. © 2024