The Idaho MSA offers some incredible advantages to employer groups who choose to implement it as an added benefit to their employees. It is simple, inexpensive and flexible, and when coupled with Idaho Independent Bank's knowledge and experience, it is truly a win-win for employers and employees alike.
Let us show you how with very minimal effort, zero risk and a negligible cost this program will boost employee morale, increase retention rates and establish a benefit package that is more than competitive with other local employers.
With Idaho Independent Bank, the Idaho MSA is:
Simple to Understand:
We make the Idaho MSA incredibly simple for you and your employees to understand. We handle all the employee education, and conduct on-site trainings and webinars. We provide educational handouts, and will work with your HR department in addition to each and every one of your employees on a personal level. We do this to make sure your employees know exactly what they're getting, and the best way to take advantage of all the benefits to the MSA based on their own healthcare and financial situation.
It's important to note that the Idaho MSA has no ERISA requirements or complicated tax reporting necessary from the employer, either. Your employees simply write off what they contribute into their MSA each year, and your HR department can defer any and all MSA questions directly to our office and we will immediately handle them on your behalf. There is no need for anyone in your office to quickly become versed in Idaho Tax Code and Medical Savings Accounts. Leave the complicated questions to us, and you can simply focus on your own company business without the distractions.
We will take the "complicated" out of this program, and make it a simple but extremely comprehensive benefit you can offer your employees.
Effortless to Implement:
We will handle everything with your Idaho MSA implementation from start to finish, making this addition to your benefit package a seamless success. We handle all the necessary staff training, all the employee education, and will walk you through every step of the enrollment process. We do free on-site training, we host free employee webinars, and we provide all the educational handouts and materials necessary to ensure your employees understand both what a tremendous benefit their employer is providing, as well as the knowledge necessary to maximize their accounts to best suit their individual needs! And that's just the beginning.
The Idaho MSA program is so easy to install because it is flexible, and plays so well with any existing benefit structure you may have in place. It works right along side FSAs, HSAs and HRAs, and it has no insurance requirements at all. You can have an Idaho MSA with any kind of policy, with any deductible limit, any carrier, Medicare, etc. You can even have an Idaho MSA with no insurance coverage at all!
There are no age restrictions, so all of your employees can contribute to their accounts. As we mentioned above, there is no tax reporting or ERISA requirements, either. The Idaho MSA program is set up to be an absolutely effortless add-on to your existing offerings that will bring your employees a tremendous amount of added benefit.
Inexpensive to Install & Maintain:
All of this can be accomplished without having to adjust your existing benefit package! Whether you offer an expensive "Cadillac" PPO, a dual option HSA/PPO combination, or even no insurance plan at all...providing the Idaho MSA for your employees is a quick, simple, and inexpensive way to immediately upgrade your benefit offerings and provide value to your employees.
There are no adjustments necessary because there are no insurance requirements, no age restrictions, and the MSA will even work with your existing FSA/HSA/HRA to act as a supplemental benefit. In the instance you aren't currently providing insurance to your employees, you could even fund whatever you can afford into their MSA and they can use that tax-free money to pay their premiums from insurance they obtain privately through the exchanges or through their broker. No matter your situation, there's a way we can tailor your Idaho MSA to really increase your benefit offerings.
Maintenance on these accounts should cost you virtually nothing. Both you and your employees are part of Idaho Independent Bank's ongoing customer service and support, and the only thing you will ever need to do should something come up, is simply contact our office.
A Tremendous Benefit:
With the Idaho MSA, you're offering your employees access to a tax-favored Medical Savings Account that instantly allows them to save money on their healthcare costs. These savings are attained through the ability to pay for qualified healthcare expenses like co-pays, insurance premiums & hospital bills with tax-free dollars. In addition, every dollar they contribute to their MSA reduces their State income tax, and can even drop them entire tax brackets in the process. The money they don't spend rolls over each year, and the unspent funds earn tax-free interest.
You're also providing your employees a way to plan for the future. The Idaho MSA uses its tax benefits as a reward for depositing funds that you intend to use on future healthcare costs. Whether someone is old or young, healthy or not, or even insured or not - they will have healthcare costs, and being prepared makes all the difference in the world. Providing them a vehicle that allows them to plan for the inevitable is an incredible benefit that your employees will recognize and appreciate.
Implementing the Idaho MSA through American Health Value has perks and benefits you'll find nowhere else. In addition to our 18+ years of knowledge and experience administering MSAs and HSAs, you'll be providing your employees access to our free healthcare discount program. This discount card will save them hundreds, if not thousands of dollars on healthcare costs like prescriptions, dental visits, eye exams and numerous other real healthcare expenses families are constantly facing. The discounts are significant and can make a major impact in saving people money in an industry that has seemingly driven up costs on them every single year.
Helping your employees save money and stay healthy definitely has its own set of benefits to employer groups, too. Many employers agree that a happy, healthy workforce:
- Creates increased sense of loyalty and satisfaction in employees
- Shows improved recruiting and retention efforts
- Provides improved employee productivity
- Helps your bottom line!
Upgrade Your Benefit Package
As employers continue to see affordable benefit options dwindling, the Healthcare Discount Program with the Idaho MSA is an incredible offering at a virtually non-existant investment of time and money. Implementing these programs will help keep your employees both happy and healthy, which translates directly to the health of your business.
So whether adding the Idaho MSA is an upgrade to an existing plan or a new build on a blank slate, all of us at Idaho Independent Bank are here to handle every last detail regarding your new benefit offerings! Contact our office and let us know how you'd like to get started.