More and more, we’re seeing HSAs being used as stand alone benefits plans for small groups or those new to benefits. Companies love the budget predictability of an HSA while employees love the flexibility to decide how to use the funds. There’s even the option to add travel and catastrophic coverage.
Convincing your clients:
– Fixed budget for employers
– Flexibility in how to use funds for employees
– No pre-defined plan design, per visit limits or annual maximums
– Ideal for companies who are new to benefits as a potential introduction to a traditional benefits plan
– Great for companies with younger or diverse employee demographics
Further, Benecaid’s HSA includes an annual detailed reporting package similar to that of a traditional group plan, to help advisors and clients understand trends and optimize plans.
– Simple enrolment process – online or through paper enrolment forms
– Quick online claim submission – take a picture of your receipts
– Employees can view their account balance and transaction history in real time online
– Implementation Specialist is also available to help onboard groups
To find out more about using an HSA as a stand alone group plan, contact your Benecaid Benefits Consultant or email us at firstname.lastname@example.org.
For Benecaid’s Health Spending Account terms and conditions please click here.