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Voya 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.
Health Savings and Spending Accounts, including Health Savings Accounts, Flexible Spending Accounts, Commuter Benefits, Health Reimbursement Arrangements, and COBRA Administration offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC). Administration services provided by WEX Health, Inc., and Benefit Strategies, LLC
In partnering with Voya for HSA Administration you can expect:
• Dedicated Account Management, single point of contact for all services
• Phone, Email, Online Chat and Text to Chat access to customer service 24/7
• Certified in-house Compliance specialists
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
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