Health Savings Accounts (HSA)

Help Your Employees Manage Their Healthcare Finances and Prepare For The Future

Controlling costs and keeping your employees happy, healthy, and engaged is important to you. Offering a qualified high-deductible health plan (HDHP) paired with a health savings account (HSA) can be a powerful strategy to:

  • Reduce premiums and spending
  • Attract and retain talent
  • Prepare employees to manage their growing healthcare responsibilities
  • Empower employees to take charge of their spending
  • Reduce your FICA and federal unemployment tax liability

What to know about HSAs

  • An HSA allows your employees to set aside pre-tax dollars for eligible healthcare expenses
  • HSAs must be paired with a high deductible health plan
  • Tax-free contributions can be made by employers or employees, up to the IRS limit ($3,850 for an individual and $7,750 for a family in 2023).
  • Money goes in, grows, and can be withdrawn tax-free (if spent on eligible items)
  • Account stays with the employee, even if they change jobs or health coverage
  • No use it or lose it rule
  • Employees can invest savings for growth once they reach a balance of $1,000

Manage your American Benefits Group HSA program with ease

  • User-friendly employer portal: Quick and easy access to the information you need, including employee status, debit card status, enrollee lists, contributions, payroll reconciliation, and much more.
  • Flexible funding: Account contributions can be made in a variety of ways to suit your needs.
  • Streamlined onboarding: Get your employees up and running smoothly. We can even provide electronic consent for transferring funds from an existing HSA solution.

Deliver a better employee experience

The American Benefits Group HSA is a lifetime high savings vehicle that engages and delivers value for all employees, regardless of where they are in their healthcare journey: saving, spending, or investing.

Modern and personalized investment experience

Our modern and personalized investment experience helps employees grow their earnings and confidently prepare for the future.

  • Three investment paths to fit individual needs and experience levels: Managed, Self-Directed, Brokerage
  • Employees can change paths at any time
  • Open an account, transfer funds, and make transactions in real time
  • Employees can manage all aspects of their HSA, including their investments, from the same website and mobile app

Multi-purse Debit Card offers a convenient way to pay

  • A single debit card is leveraged for all Health Benefit Account spending
  • Provides easy, immediate, thought-free access to funds
  • Automatically pays for eligible expenses from the right account

Next-generation WealthCare Portal and Smart Mobile App

  • Gives your employees convenient anytime, anywhere access to their HSA
  • View real-time balances and transactions, submit claims, view important account alerts, access investments, and much more.
  • Our mobile app helps your employees get the most out of every dollar they spend, including:
    – Virtual medicine cabinet and pharmacy discount card to save on prescriptions
    – Find care to search for providers or procedure and drug prices
    – Funding calculator to help save for the future

Employee engagement tools

  • Triggered alerts and notifications via text and email keep your employees informed about their account
  • Educational resources to help employees realize the benefits of an HSA

High-Yield savings

  • The High-Yield interest option can help employees earn higher interest on their HSA cash balance, making it a great way to maximize the savings potential of their HSA.
  • Employees choose the interest rate option that best meets their needs: High-Yield or Traditional. They can change their option at any time via the WealthCare Portal or Smart Mobile App.