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HSA Bank - FSA, LP-FSA, and DC-FSA
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FLEXIBLE SPENDING ACCOUNT OFFERINGS:
1. Medical Flexible Spending Account (FSA),
2. Limited Purpose Flexible Spending Account (LPFSA) and
3. Dependent Care FSA
FSA, LPFSA and DC-FSA are employer-sponsored accounts letting employees set aside pre-tax dollars to pay for eligible expenses.
It’s a smart way to save and pay for eligible expenses, because employees don’t have to pay federal or FICA taxes on the money they put into their account, and many state taxes are also exempt. With any of these FSA plan option, pre-tax funds are deducted from each paycheck and automatically deposited into the employee’s account.
When an employer augments a benefits package with an FSA, it sends a strong message to employees that their employer cares about their health and well-being, and helps employers attract and retain staff. Benefits for employers and employees include:
• Control - Employees decide how much to contribute and control how best to spend their healthcare dollars.
• Tax savings - Pre-tax contributions lower taxable income for employees.
• Flexibility - Employees can plan ahead for out-of-pocket expenses they know they'll have, such as orthodontia or other major dental work, eyeglasses, and prescriptions.
• Productivity - Healthy and happy employees are more engaged in their work and are better for the employer's bottom line.
FLEXIBLE SPENDING ACCOUNT OFFERINGS:
FLEXIBLE SPENDING ACCOUNT OFFERINGS:
1. Medical Flexible Spending Account (FSA),
2. Limited Purpose Flexible Spending Account (LPFSA) and
3. Dependent Care FSA
FSA, LPFSA and DC-FSA are employer-sponsored accounts letting employees set aside pre-tax dollars to pay for eligible expenses.
It’s a smart way to save and pay for eligible expenses, because employees don’t have to pay federal or FICA taxes on the money they put into their account, and many state taxes are also exempt. With any of these FSA plan option, pre-tax funds are deducted from each paycheck and automatically deposited into the employee’s account.
When an employer augments a benefits package with an FSA, it sends a strong message to employees that their employer cares about their health and well-being.
At HSA Bank, we’re working toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, we make it simple for our 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, we continue to innovate. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors.
Employee Navigator and HSA Bank partnered to create a more convenient solution for you and your employer clients. This partnership offers employers a seamless experience that features the user-friendly Employee Navigator benefits administration platform combined with over two decades of healthcare savings expertise from HSA Bank. Through simple program onboarding and integrated, automated enrollment processes, employers can have a fully supported program up and running in no time.
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