A Health Savings Account (HSA) is a tax-favored account used in conjunction with an HSA-compatible high deductible health plan. The HSA allows you to contribute funds on a pre-tax or tax-deductible basis, which you may use to pay for eligible medical expenses.
The plan also benefits businesses, as they save 7.65 percent in social security taxes on every dollar participants contribute to the plan.
Our plan design experts and in-house Compliance team can help employers establish a BESTflex Plan Limited Health Care Flexible Spending Account (FSA) that is compliant with all HSA regulations. Employers can count on our in-house Employer and Participant Services teams to provide answers when employers and participants need them.
HSA Bank is our custodian
HSA Bank is one of the most experienced HSA custodians in the country. With competitive interest rates, low fees, solid investment options, an easy-to-use online banking experience, HSA Bank does what it does best. As an Employee Benefits Corporation partner, HSA Bank helps us provide you with an outstanding benefits solution.
The Benny™ Benefits Card adds convenience
Convenience is built into Benny™ and does double-duty when SimplyHSA is combined with the BESTflex Plan Limited Health Care FSA. When participants use the card to pay for eligible dental and vision expenses, Benny™ draws from the Limited Health Care FSA. If participants use Benny™ to pay for eligible medical expenses, the card draws from SimplyHSA. When the Limited Health Care FSA funds are used up, the card draws from funds remaining in SimplyHSA, all at the point-of-sale.
Benny™ is available with SimplyHSA or SimplyHSA and a Limited Health Care FSA.
Employee Benefits Corporation and HSA Bank - simply more
- Compliant plan design that works with business needs
- Employee Benefits Corporation in-house Client Liaisons and Participant Support
- In-house compliance specialists
- Benny™ Benefits Card
- Easy online administration
- Employer and employee education materials
- No minimum account balance
- Competitive interest rates
- Low fees
- Solid investment options
- Immediate account funding