Do you offer bike to work programs? What about gym membership reimbursement? Promoting healthy habits can go a long way toward reducing overall healthcare spend. 

Adding 30 minutes of daily cycling saves $544 per person in annual medical costs.* 

Generics often cost less than name-brand prescriptions. Also, urgent care is usually cheaper than the emergency room. 

On average, the cost of generics is 80%-85% less than brand-name.** 

Health Savings Accounts often bring less expensive healthcare premiums. So, they represent a great way to unlock significant savings. Plus, members can spend their HSA tax-free for qualified medical expenses. 

HSA Math^

2023 HSA family plan contribution limit

Assumed tax rate

Potential annual tax savings^^

We’ve found that employees don’t always know all the things they can purchase with an HSA or healthcare FSA. Be sure to alert your employees to potential savings.  

Here are a few common ways to spend your HSA.

Sleep aids

Pain relievers

Dental cleaning

Doctor visits

Chiropractic care

Eyeglasses/contacts

Insulin testing supplies

Cold/cough medicine

Everything at the HSA store and FSA store is counts count as a qualified medical expense.*^ It makes it really easy for employees to shop—and save—with confidence!

*Bikesmakelifebetter.com/wellness-programs/

**Uhhospitals.org/blog/articles/2022/07/generic-vs-brand-name-drugs-is-there-a-difference

^Example for illustration purposes only.

^^HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-deductible with very few exceptions. Please consult a tax advisor regarding your state’s specific rules.

*^HealthEquity and the FSA and HSA Stores are separate, unaffiliated companies and are not responsible for each other's policies or services.

HealthEquity does not provide legal, tax or financial advice. Always consult a professional when making life-changing decisions.

Copyright © 2023 HealthEquity, Inc. All rights reserved.