Employer HSA

Employer Health Savings Account

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. Schedule an appointment with a Treasury Management Officer today to get set up with Employer HSA.

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HSA Advantages for Employers

Easy Enrollment	Quick and easy setup that doesn't require the employee to visit the bank or have an existing relationship with Peoples to enroll.
Data Reports	Receive insightful data regarding the use of HSA accounts by your employees through trends reporting.
Contribution Management	Employer and employee contributions can be made with your regularly scheduled payroll. Process enrollments and contributions efficiently with easy-to-use import and recurring contribution processes. Multiple options are available for funding accounts, including scheduled contributions, file-based contribution submission, and recurring contribution processing.
Low Monthly Service Charge	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.
Tax Advantages	Gain potential tax savings and control how much you contribute to your employees' HSAs.
Employee Management	Easily respond to employees’ questions and issues and manage demographic changes with our easy-to-use employer dashboard. Whether employers want to know the status of file imports, access their reporting, or jump into employee-specific information, employers can quickly find what they need.

Readily access, run, and download reports.

Easily search for employee-specific information.

HSA Advantages for Employees

Mobile App	Manage your account whenever and wherever you are through the Benefit Manager mobile app. Receive account balances and set alerts via text messages on any mobile device.
Card Controls	Report your card lost or stolen anywhere through online or mobile access.
Payment Options	Pay for qualified expenses with your no-charge Benefits Visa debit card.
Reporting	Access a monthly statement online free of charge. A monthly paper statement is also available for $5.00 per month. Account information is available online by logging into the Benefit Manager Portal and by phone at (844) 649-0803.
Contribution Management	Control how much you want to contribute to your account.
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.
Investments	Take advantage of the opportunity to earn tax-free returns on your dollars saved with additional investment options.
eStatements	Receive monthly account summaries electronically.
Tax Advantages	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.
Track Expenses	Track your expenses by uploading receipts online or through your mobile app using your camera.
Full Account Ownership	Maintain full ownership of the money in your account. Take your account with you if you change employment or retire.
Roll-Over Balances	Roll-over your account balance from year-to-year.
Transfer Funds	Transfer funds from investment accounts (non-FDIC insured). Set up account-to-account transfers from any bank account.