Health Savings Accounts

The BeneSkill HSA is a full-featured spending and savings account with limited cash requirements and automatic rollover into market-driven mutual fund investment elections.

Why HSAs sit in two categories at once

An HSA is the only account with triple tax advantage: contributions go in pre-tax, growth is untaxed, and qualified withdrawals come out untaxed. Paired with a high-deductible health plan, it lowers premium cost today while building an asset employees carry into retirement.

Pairing with your medical plan

Offering HSAs alongside high deductible health plans saves money on health insurance premiums, and reduces FICA and FUTA payroll taxes on employee contributions. Employer seed contributions are often what drives adoption — the account only works as a cost strategy if employees actually enroll in it.

One platform for every account

Health FSA, HRA, HSA, dependent care, wellness and transportation accounts are fully integrated in one platform, along with custodial banking services. Employees see one balance view rather than four disconnected portals.

What’s included

• Secure, FDIC-insured financial accounts
• Reduced FICA and FUTA payroll taxes
• Account details, distributions and statements online
• Change payroll deduction elections online
• Update beneficiaries and addresses online
• Allocate funds across an array of mutual funds
• Web-based, fully integrated portals with 24/7/365 access
• Online claims and direct deposit reimbursement
• Electronic statements
• Automated monthly reports with email alerts
• Virtually paper-free administration
• Lump sum, first-of-month or payroll-cycle contribution scheduling
• Easy mid-year enrollment
• Automated communication and email alerts
• FDIC-insured cash and interest-bearing account