Marketplace

HSA Administration

A Health Savings Account (HSA) is a medical savings account that offers a triple-tax advantage for employees and a method to save for future healthcare expenses. Contributions, interest and investment earnings, and payments for qualified medical expenses are all tax free. The HSA is an individual account, fully owned by the account holder in the same manner as a personal bank account.

Employees benefit from our software platform, which is fully integrated with our banking partner for a seamless HSA solution.

In partnering with Benefit Strategies for HSA Administration you can expect:

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Unmatched Support

• Dedicated Account Management, single point of contact for all services
• New England based call center support 24/7
• Phone, Email, Online Chat and Text to Chat access to customer service
• Certified in-house Compliance specialists
• Employee education and Biweekly HSA GPS blog

Modern Technology & Online Tools

• The myHSA(k)© debit card to pay for HSA eligible items quickly and conveniently
• Secure Member portal & Mobile account access to view account information, transaction history, and request disbursements on the go
• Secure Employer Portal with training and support
• Mobile HSA Eligible Expense scanner
• Multi-account debit card

Employer and Employee Tax Savings

• Employer – reduce payroll taxes by decreasing matching FICA taxes (7.65%) as well as federal and state unemployment taxes
• Employee – reduce taxable income on average 30% through pre-tax payroll deductions, federal and state income taxes and FICA taxes