High Deductible Health Plan (HDHP) / Health Savings Account (HSA)

High Deductible Health Plans (HDHPs) offer high-quality, cost-effective coverage with innovative preventive care programs.

Once an employee is covered under our HDHP, he or she can contribute to a portable Health Savings Account (HSA) and the funds deposited will accumulate tax-free. The employee may withdraw funds from the account without any tax penalties and apply them toward the deductible or any qualified medical expense. If an employee chooses to pay deductible costs or other medical care out-of-pocket, he or she can leave the money in the account for future use on a tax-advantaged basis.

HSAs are portable. When an employee leaves his/her employer a rollover must be completed within 60 days after the employee's last day.

The Nippon Life Benefits HSA is offered through UMB Bank, a subsidiary of UMB Financial Corporation. UMB Bank shares our commitment to service excellence and our focus on customer relationships - all while providing a comprehensive suite of banking products and services. From commercial banking to asset management for individuals and institutions, to health care financial services to asset servicing, UMB focuses on creating a customer experience that is more than people have come to expect.