Marketplace

HSA BANK - Health Reimbursement Arrangements (HRA)

COMPLETE THE REQUIRED HSA BANK DISCOVERY FORM to begin!

*** Once you enable HSA Bank for your client in the Employee Navigator Marketplace, simply complete the *REQUIRED HSA Bank Discovery Form*. Once the setup is complete, HSA Bank will contact your client with important information about their program.***

Please use the links in the right margin of this tile to visit our website or email PartnerSupport@hsabank.com to learn more about HSA Bank.

Service level for processing is 7-10 days from receipt.

Health Reimbursement Arrangements, or HRAs, are a way for employers to help offset their employees’ healthcare expenses, while gaining tax advantages. Employees are given money from their employer to spend on out-of-pocket medical expenses. All employer contributions to HRAs that meet with IRS rules are 100% tax deductible to the employer and tax-free to the employee.

When an employer augments a benefits package with an HRA, it sends a strong message to employees that their employer cares about their health and well-being, and it helps employers attract and retain staff. Benefits for employers and employees include:
• Control - Employers decide how much to contribute and what medical expenses the funds can be used for. Employees control how best to spend their healthcare dollars.
• Tax savings - Employer contributions are tax-deductible, lowering their payroll taxes. Funds are also tax-free to employees, so they don’t increase their income tax burden.
• Flexibility - Employers choose whether to allow funds to carry over each year. And the money stays with the organization when employees leave.
• Productivity - Healthy and happy employees are more engaged in their work and are better for the employer’s bottom line.