HEALTH SAVINGS ACCOUNT

HEALTH SAVINGS ACCOUNT ADMINISTRATION SERVICES

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to employees enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. The funds can be used to pay qualified medical expenses at any time without federal tax liability or penalty. Withdrawals for non-medical expenses are treated similarly to those in an individual retirement account (IRA) in that they may provide tax advantages if taken after retirement age and incur penalties if taken earlier. This is often called the “Triple Tax Advantage”. 

OUR SERVICES INCLUDE: 

  • Secure web access for plan participants to view information 

  • Secure web access for client benefit administrators to view information

  • MasterCard® Debit cards. One debit card accesses limited medical flexible spending accounts, dependent care spending accounts, health reimbursement accounts and the health savings account 

  • Educational materials such as eligible and ineligible expense lists

  • Call center available Monday through Friday, 9:00 a.m. to 5:00 p.m. EST

  • Full suite of reports available on demand via the service team