Pay-As-You-Go Health Spending Account (HSA)

This credit-based Health Spending Account (HSA) allows employers to declare a pre-defined amount per employee and get billed only when claims are submitted. Billing is set up to be weekly, semi-monthly or monthly depending on the employer’s preference. If an employee leaves the company’s benefits plan, any remaining balances are no longer available for them to use.

As with all of Benecaid’s Health Spending Accounts, employees can manage their accounts through a secure online portal with the ability to submit claims and view their Health Spending Account balance in real time.

Benefits for Plan Sponsor:

• No additional set-up fees
• Pay only on actual claims – cash flow positive
• Pre-authorized payment plan allows for quick claim payments
• HSA spending trends and reporting by category available annually at renewal, allowing Plan Sponsors to see where employees are deriving value from their plan

Benefits for Employees:

• Amounts are allocated at the start of each plan year
• Unused credits roll-over for one plan year
• Seamless claim submission and reimbursement
• Convenient online access with the ability to view HSA balance, submit claims, view claims history and more!

For more information on how this solution could work for your clients, please contact your Benecaid Benefits Consultant or email us at advisors@benecaid.com.

For Benecaid’s Health Spending Account terms and conditions please click here.