The high cost of insurance may be a challenge for many employers. But there may be an answer to these questions:

• Are you combating higher health insurance premiums? Yes
• Are you considering or are you offering your employees a high deductible health plan (HDHP)? Yes
• Are you looking for peace of mind about your health care expenses? Yes
• Do you want it to be as easy as possible? Yes

Then, you’ll want a Health Savings Account (HSA) from Merchants Bank.

The Winona Area Public Schools (WAPS) is one business that is offering HSAs, and the results have been good, according to Jolie Severson, Payroll and Benefits Administrator at WAPS. More than 411 of the more than 600 employees at WAPS have HSA accounts.

“I would rate our experience as 10 out of 10,” Severson said. “The staff at Merchants is helpful with setting up our employees’ accounts online, allowing personal funds to be directly deposited. All questions and special circumstances are answered with efficiency and satisfaction.”

Severson said there are a number of other benefits for employees.

“It’s not a use it or lose it account, so all the funds in the account stays with the employee for years to come. There are employees who are building up this account for retirement with tax-free dollars,” Severson said. “Employees have become better health care consumers as they manage their medical needs.”

Plus, the account is portable if the employee were to leave and can be transferred to a spouse upon death.

If you want to learn more, talk with your insurance agent and then talk to us at Merchants Bank. We’d be happy to come on-site to help educate your employees.