An ADP news release said that, effective June 1, 2005, clients may select HSA-compatible high deductible health plans (HDHPs) and can make their employees eligible to establish HSAs through JPMorgan Chase Bank.
“With health care costs far outpacing wage growth during the past several years, employers large and small are challenged to provide affordable coverage,” said Carlos Rodriguez, ADP TotalSource’s division president, in the news release. “We’re regularly evaluating benefits that we can offer to our clients to help them attract and retain the best employees. The availability of HSA-compatible HDHPs means that employees will be eligible to establish HSAs, and this will provide our clients and worksite employees with a means for reducing the overall cost of health insurance while encouraging employees to be smarter health care consumers.”
For more information about ADP TotalSource, call (800) 447-3237 or visit http://www.adptotalsource.com .