Is a Health Savings Account Right for Your Company?

• Definitions of “emergency” and emergency care
• Lifetime maximums
• Excluded services
• Limitations
• Coverage of services (such as psychiatric care or trips to the chiropractor) with particular relevance to your health
• Renewability
• Coverage away from home
• Requirements for preauthorizing services
• Customer service ratings
• Provider networks

Consider, too, the experience of getting this information from the plan. Was it easy to find? Did you have problems navigating the plan’s website? Did you have to spend a long time on hold before someone could answer your questions? Small business advocacy groups fought hard for the legislation enacting HSAs. Are they right for your business?