This flexible Health Spending Account model allows companies to contribute to employee’s HSAs based on the number of hours they worked. Each month, the employer provides Benecaid with the actual hours each employee has worked and based on an agreed upon contribution per hour, they are automatically billed for the HSA contributions within that period. This is a perfect solution for clients who manage franchises, retail, part time or for those with a less permanent workforce of seasonal or contract workers, providing health and dental coverage in a way that works best for their business model.
As with all of Benecaid’s HSAs, employees can manage their accounts through a secure online portal with the ability to submit claims and view their HSA balance in real time.
Benefits for Plan Sponsor:
- No additional set-up fees
- Contributions can be as little as 25 cents per hour
- Simply submit hours per employee each month – no additional calculations required
- Pre-authorized payment plan allows for quick contribution deposit
- Annual reporting provided at renewal showing HSA spending trends, useful to track overall HSA contribution by employee
Benefits for Employees:
- Ability to view real time HSA balance online
- No set plan design – employees can choose how to spend their funds
- Seamless claim submission and reimbursement
- Convenient online access with the ability to view HSA balance, submit claims, view claims history and more!
To learn more about our Hourly HSA solution, contact your Benecaid Benefits Consultant or emails us at firstname.lastname@example.org.