Health Savings Accounts, or HSAs, have been around for nearly 20 years (they debuted in December 2003), and have grown in popularity. Today, assets held in the more than 33 million accounts exceed $100 billion. It’s projected that the number of HSAs will grow to 43 million by the end of 2025. Many businesses have adopted HSAs as their only health care option or one of the choices for employees. For small businesses, HSAs are a good way to ensure that employees have health coverage without busting the budget. While there’s plenty of time to make your company’s health care arrangements for 2024, it’s not too early to begin thinking about it.
