Medical Savings Account Information & Resources



Health Reimbursement Accounts or Health Reimbursement Arrangement (HRA) can be tricky without the right plan set up. This tool can have great success in lowering overall cost of healthcare is implemented properly. There are a number of things you will need to consider as an employer before implementing this type of program. Please be sure to contact us and we can give you the information that you need to make that decision. With the Affordable Care Act in place some of the rules for this type of account have changes.

Health Saving Accounts: HSA's

HSAs are an excellent way to help fund medical expenses. By estab­lishing an HSA, you can deposit funds into your account tax-free via salary reductions to pay for qualified medical expens­es. The funds are held in a custodial account until which time a qualified medical expense has been incurred, at which point funds can be withdrawn from the account. Unused balances at the end of the Plan Year are retained in the account and may be carried over to the subsequent Plan Years. In addition, funds in the accounts belong to you and are portable.

To be eligible for an Individual Medical HSA, you must have a qualifying deductible health plan or be applying for one in conjunction with the HSA; and there can be no coverage in place by another health insurance plan (other than a plan provid­ing certain limited types of coverage, such as accidental and scheduled Benefit Plans).

Flexible Spending Accounts: FSA's

Another great solution is using pre-tax dollars to pay for qualified medical expenses. An FSA reduces your taxable income while increasing your take home pay! Consider how much you spend on healthcare and/or dependent care expenses for you and your qualified dependents in one year:

  • Prescription
  • Drugs/Medications
  • Medical/Dental office visit co-pays
  • Eye exams and
  • Prescription glasses/lense
  • Vaccinations
  • Daycare Tuition

Why not reduce these expenses by using pre-tax dollars instead of after-tax dollars? With rising healthcare costs, every penny counts! By using pre-tax dollars, you are taxed on a lower gross salary, thereby saving money that would otherwise be spent on federal, state and FICA taxes, and thereby you increase your take home pay!

If you would like more information about how all of these powerful products can enrich the benefits of your employees please let us know and we can send you some information that will answer all your questions.Contact us!

American Mutual Benefits Now Plan!

If an Employee claims $4,000 for kid’s braces, he could SAVE $1,000!

Save Receipts

Save monthly “Out-of-Pocket” receipts for Doctors, Dentists, Vision, Prescriptions & Child Care.

Fill Out Claim Form

Fill out the AMB Claim Form and list all “Out-of-Pocket: expenses that you have receipts for.


Send Forms & Receipts

Fax or email the Claim Form and copies of the listed “Out-of-Pocket” receipts to AMB NOWPlan.


AMB Calculates

AMB NOWPlan reviews and calculates the claim form and sends the report to the Employer’s Payroll Department.


You Get a Bigger Paycheck

Employers Payroll Department enters the amounts from the AMB report – the amount of taxes you paid on your claimed expenses is added back into your next paycheck.