| Horizon MyWay HSA |
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Horizon MyWay HSA (Health Savings Account) is a high-deductible health plan combined with a tax-favored personal savings account, a 100% preventive-care benefit and the health tools and resources that empower your patients to make smart health decisions. Generally, premiums for Horizon MyWay HSA are lower than for other health insurance options, thereby offering patients' employers immediately realized savings.
Contributions to an HSA can be made in three ways — by the employer, employee or both. Contributed funds can be either tax-free or tax-deductible and can be used to pay for eligible medical expenses including the deductible, or saved for future needs or for retirement. Once the deductible is met, Horizon MyWay coverage kicks in.
Money in an HSA belongs to the employee. That means funds accumulate from year to year, and remain with the employee even if he/she changes jobs. An employee may access his/her HSA regardless of age, marital status changes, future medical coverage or state of residence. HSA funds are held in a money market fund and accrue tax-free interest.
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