Keep you and your team healthy & wealthy
Help employees take control of healthcare costs with simple, tax-advantaged savings that help them save, earn, and invest.1
Three reasons to offer an HSA
With pre-tax contributions, tax-deferred account growth, and tax-free withdrawals, an HSA helps your team’s healthcare savings go farther — and at LMCU, there’s no contract or minimum required.
Tax advantages for medical expenses
Give employees a smarter way to easily open and save for healthcare tax-free (1) when enrolled in a qualified high-deductible health plan (HDHP).
Simple setup
Get started fast, with no contracts and no minimum participation requirements and no account fees as well as minimums for employees (2).
Stronger benefits
Enhance your total rewards package with a flexible benefit that empowers your team with a triple tax advantage (1) and not a use it or lose benefit.
How to set up your HSA program
Talk it through
We review your health plan and headcount, then confirm your employees are HSA-eligible.
Enroll your team
We handle account opening and give your staff the education they need to use it well.
Fund contributions
Send employer and payroll contributions electronically using ACH Disbursement.
Employer Group HSA FAQs
It’s a health savings account program you offer to your employees. Each employee owns their own HSA, and both they and you can contribute to it. Contributions are made pre-tax, the balance grows tax-deferred, and withdrawals for qualified medical expenses are tax-free.
Take advantage of potential FICA tax savings of up to 15.3% through contributions that address both employer and employee payroll tax responsibilities.
An HSA offers a unique triple-tax benefit: tax-free contributions, tax-free investment growth, and tax-free withdrawals for qualified medical expenses.
No. LMCU’s Employer Group HSA program has no contract and no minimum participation requirement, so you can offer it regardless of the size of your team or how many employees choose to enroll.
Contributions can be sent electronically using LMCU ACH Disbursement, the same service businesses use for payroll and vendor payments. That lets you schedule recurring contributions alongside your existing payroll cycle.
The HSA belongs to the employee, not to your business, so they keep the account and the balance when they move on. There’s nothing you need to unwind on your side.
Your business is in good company.
Our business members love working with us, because we’re committed to helping businesses across the communities we serve grow more, do more, and create more jobs.
5-star rating for financial strength and stability
BauerFinancial, May 2026
Ready to offer better benefits?
Schedule an appointment to start an Employer Group HSA program with LMCU
Your bottom line is our top priority.
Disclosures
Lake Michigan Credit Union does not provide tax or legal advice. Please consult your tax advisor or attorney before making any decisions or taking any action based on this information.
