Despite all the political uncertainties surrounding healthcare, there remains one constant when it comes to the practice of medicine—cash is king. A smart way many companies are hedging against any future disruptions from Washington is matching funds to employees’ Health Savings Accounts (HSA). Building up an HSA allows for employees to have more funds and thus more control of their healthcare while providing excellent tax benefits to employers.
The other important benefit of HSAs is that those funds can build year-over-year. In 2018, an out-of-pocket maximum for individual employees’ medical care is up $100 from just a year ago (while a family’s exposure is up $200). To offset these increases, the IRS is allowing individuals to put an extra $50 in their HSA (while families can put in an extra $150). And no matter what happens in Washington, doctors will always take the cash in a Health Savings Account.