Employer Health Savings Account Administration
A Health Savings Account (HSA) combines an affordable qualified High-Deductible Health Plan (HDHP) and a qualified Health Savings Account. This combination results in savings for employers and employees through lower health care premiums.
Partner with Peoples - Enjoy These HSA Benefits
||Quick and easy setup that doesn't require the employee to visit the bank or have an existing relationship with Peoples in order to enroll.
||Manage your account whenever and wherever you are through the Benefit Manager Mobile app.
||Employees pay for qualified expenses with their no-charge Benefits Visa Debit Card.
||Employees access a monthly statement online free of charge. A monthly paper statement is available for $5.00 per month. Account information is also available online by logging into the Benefit Manager Portal and by phone at (844) 649-0803.
||Employer and employee contributions can be made with your regularly scheduled payroll.
|Competitive Rate of Return
||HSA accounts are FDIC insured deposit accounts that earn a competitive rate of return. The account also offers tiered interest rates for greater earnings for higher balances.
|Low Monthly Fee
||There are no transaction fees or limitations - just a $3.00 per month per account service charge that may be assessed to the employer or employee.
||Report your card lost or stolen anywhere through online or mobile access.
||Take advantage of the opportunity to earn tax-free returns on your dollars saved. Included in the Benefit Manager is an option for self-directed investment funds (non-FDIC insured).
- Employees setup is all online - no manual forms or data entry!
- Process enrollments and contributions efficiently with easy-to-use import and recurring contribution processes.
- Receive insightful data regarding the use of HSA accounts by your employees through trends reporting.
- Gain potential tax savings and control how much you contribute to your employees' HSAs.
- Low monthly maintenance fees.
- Easily respond to employees’ questions and issues and manage demographic changes.
- Enroll, update enrollment and change employees’ employment status easily in Benefit Manager.
- Multiple options are available for funding accounts, including;
- Scheduled contributions
- File-based contribution submission
- Recurring contribution processing
- Receive monthly account summaries electronically.
- Mobile capabilities for your employees.
- Gain tax advantages by contributing pre-tax dollars, investing the money so it can grow tax-free and withdrawing the money tax-free when used for qualified medical expenses.
- Control how much you want to contribute to your account.
- Roll-over your account balance from year-to-year.
- Maintain full ownership of the money in your account.
- Take your account with you if you change employment or retire.
- Use your account to pay for anything upon reaching age 65 without penalty (subject to applicable income taxes).
- Grow your account with an FDIC-insured deposit account (covered to the extent permitted by law) with tiered interest rates.
- Choose to invest in a variety of mutual funds upon meeting certain minimum balance requirements.
- Transfer funds from investment accounts (non-FDIC insured).
- Set up account-to-account transfers from any bank account.
- Receive account balances and set alerts via text messages on any mobile device.
- Track your expenses by uploading receipts online or through your mobile app using your camera.
Benefits Debit Card
Use the Peoples Bank Benefit Manager debit card for qualified medical expense purchases.
Benefit Manager App
Manage your HSA account on your iOS
devices. Download the App!
- Check balances and transactions.
- Submit receipts using your devices camera.
- View distributions and contributions.
- Receive account balances and set alerts via text message on any mobile device.
- Access customer service contact information.
- Report a lost or stolen card from the mobile app.
- And more.