Health Savings Accounts (HSAs) are a handy way to save for medical expenses and reduce taxable incomes. If you are enrolled in a high deductible health plan (HDHP), you can qualify for an HSA. This plan is a valuable tool that offers significant savings over traditional insurance plans because it allows employees to utilize it as a deductible funding vehicle as a retirement savings strategy! Employees can invest money, once they have reached a minimum balance in their HSA, growing their account over time! Like a 401K, participants can set up allocation models for future contributions and can also transfer money to or from their account at any time. So, what makes HSAs so great?
Unlike other plans, HSAs offer greater tax benefits, flexibility and portability to participants. On average, participants save 30 percent on their healthcare costs while utilizing an HSA. During the open enrollment period participants are able to determine their contribution limit up to the IRS maximum. However, employees are allowed to change their elected amount at any point during the year. Additionally, participants are able to take their HSA with them if they leave their current employer. To learn more about implementing an HSA contact an FBA Administrator today!
The FBA Difference
The Benefits Card is a convenient option to offer participants to reduce out-of-pocket costs.
Our IT Department has the ability to accept and process data through a multitude of methods.
Administration of HSA
FBA works hand-in-hand with your company to provide services your employees will come to depend on for years.
Our clients receive education and training sessions for employees and benefits staff.
You will have a dedicated Benefits Team to administer all account aspects for the duration of the contract.
FBA has partnered with HSAStore, the one-stop shop for all things HSA!
We provide customized communication materials to maximize participant opt in.
Our Secure File Transfer Protocol website and mobile application makes managing benefits easy!
Hear It For Yourself
“It's so much easier to use our Flex Spending since FBA started to work with us. We love the turnaround time for claims, the card is so easy to use and not having to validate every single card swipe has been AWESOME!”L. McKenzie
“You guys have been amazing from the get-go. I truly do appreciate all that you are doing to make business like ours succeed!”J. Bollen
“Thank you so much for all of your help, you and your team are amazing!”J. Corrigan
“I want to thank you so much for all the help you have extended to myself and my husband. It was so nice to work with someone who cares about doing their job correctly and about offering the best service they can to their clients. I wish you the best in all that comes your way.”T. Johnson
“I have so enjoyed working with you and completing this last step in the process. You represent the gold standard of customer service and it is profoundly appreciated.”J. Hunter
“You are the BEST to work with!””B. Snead
“The mobile app makes it so easy to manage my account and quickly view my balance, submit a claim, and review my history.”G. Fitzpatrick
“Great security features! I wish other financial institutions had services like these!”O. Castillo
“I cannot thank you enough for your time and especially, for making the drive to spend time with each of my employees. Your kind, generous attitude was most helpful when speaking about our new FSA/HSA vendor. I know employees appreciated being able to meet with you 1-on-1.”A. Stuart
“The transition of our benefit plans was seamless. We were able to communicate directly with our Benefits Team throughout the duration and never had to hassle going through a phone tree.”J. Haney