Health savings account (HSA) overview

• HSA stands for health savings account
• HSAs are owned by an individual, not an employer or health plan
• HSA funds can be used tax free anytime for eligible medical expenses
• A qualified high-deductible health plan is required to be eligible for an HSA
• HSA contributions from an individual reduce taxable income
• HSA contributions from employers are tax-deductible
• HSAs earn interest and can be invested for additional income
• All interest and investment income from HSA deposits are tax free
• Balances roll over from year to year and never expire
• After retirement, HSA funds can be used for any reason without penalties
• Funds used for non-health expenses after retirement are taxed as income, just like an IRA or 401(k)

The HealthEquity advantage

HealthEquity works closely with your health plan to deliver a fully integrated approach to consumer-driven health care that combines industry-leading health savings accounts (HSAs) and reimbursement accounts with your health plan design. We offer a solution with:

• Member support 24 hours a day
• Top ranked investment options
• Customizable employee education
• Balance booster
• Automatic health plan integration

24/7 member support

Your employees can get answers to all of their health account questions every hour of every day. Our team of account mentors based in Salt Lake City are available 24 hours a day, providing your employees with the tools and information they need to maximize their health savings. We don’t just measure the success of our member service specialists based on call handle time. Instead, we consider a call to be successful if our members learn more about their accounts on the call.

Comprehensive HSA employee education resources

We understand healthcare consumers and speak effectively to their values and experiences. Our tailored communications provide a clear, positive message that engages employees and inspires greater adoption. Our communication plan focuses on simplicity and highlights the wins and savings. The themes of our messages include:

• Save and win
• Simple, easy to understand
• Maximize savings
• Exceptional service
• Intuitive, powerful tools

Employee communication timeline

1. Pre-enrollment
   1. Begins: 8 weeks prior to open enrollment
   2. Lasts: 6-8 weeks
2. Enrollment
   1. Begins: 2-3 weeks prior to open enrollment
   2. Lasts: throughout open enrollment
3. Continuing education
   1. Begins: after enrollment
   2. Lasts: throughout the partnership

HealthEquity members have higher average HSA balances

Because of our approach to communicating with and educating our members, they have 35% more saved in their HSA accounts than members of our competitors. HealthEquity members have an average balance of $2,390 vs an average competitor balance of $1,756.

HSA investment options

HealthEquity provides access to a complete investment spectrum with options to suit every employee regardless of age, HSA balance or investment experience.

• Cash account: A low-interest account eligible for federal insurance
• Low-risk Yield Plus: This option offers higher interest rates that vary based on HSA account balance. Funds are not federally insured but are still available to spend anytime.
• Varying risk mutual funds: HealthEquity offers access to a carefully selected lineup of investments that allow our members to choose the strategy that best fits their needs.

Advisor™ – Powered by HealthEquity Advisors, LLC

HealthEquity is proud to be one of the first HSA administrators to provide access to member-level investment advisory services. Advisor is a web-based automated investment advisor accessed through the HealthEquity member portal. Based on personal risk preferences, Advisor provides advice on which funds to choose, how to diversify money amongst those funds, and will even implement the suggested portfolio automatically.

Balance Booster™ provides HSA funds on ‘Day One’

Balance Booster gives your employees peace of mind, by providing them immediate access to health saving account (HSA) funds before they have built up their account balance. By mitigating your employees’ fear of not having enough money to cover their medical expenses, Balance Booster promotes overall HSA/high-deductible health plan (HDHP) program adoption and helps you save money.

The benefits of Balance Booster include:

• Defuses employees’ fears of not having money available early in the plan year
• Helps increase participation in HSA-qualified health plans (HDHP)
• Employers and their employees don’t have to fully fund their annual contributions up-front
• The program is not a loan and does not require credit processing

Simple, convenient technology

The HealthEquity online employer portal

Prior to your company’s effective date, you’ll get access to the HealthEquity employer portal. First, we load your group eligibility files and complete the group setup for you, then you can work within our secure employer interface for managing employee eligibility, account funding and reporting. Its features allow you to:

• Create additional logins for your staff with role-based permission levels and email preferences.
• Set up banking information.
• View employee listing with status, coverage level and coverage dates.
• Fund accounts and manage contributions.
• Generate reports and create system alerts.

The HealthEquity online member portal

The online member portal is a powerful tool that gives your employees access to all account management features. Using the HealthEquity member portal, your employees can:

• Check their balance.
• Review transactions.
• View insurance claims.
• Invest in mutual funds.
• Pay providers.
• Submit requests for reimbursement.

Our portals on all of your devices

All of our online portals are optimized to work on each of the devices your employees use every day. That includes desktop and laptop computers, tablets, and mobile devices.

The HealthEquity mobile app

The HealthEquity mobile app provides easy, on-the-go access to HealthEquity accounts. The free app provides comprehensive tools to help manage transactions and maximize health savings. Key features include:

• On-the-go access: Access all account types from anywhere.
• Photo documentation: Simply take a photo with your device to initiate claims and payments.
• Send payments and reimbursements: Send payments to providers or reimburse yourself for out-of-pocket expenses.
• Manage debit card transactions: Link debit card transactions to claims and documentation.
• View claims status: View the status of claims as well as link payments and documentation to claims.
• Make claims: Create new reimbursement claims for FSA and HRA transactions.

How HealthEquity HSAs help your business

HealthEquity delivers a fully-integrated approach to consumer-driven healthcare. Our solution offers easy enrollment, less paperwork and hassle-free claims. This means simplified account management as well as online tools, resources and education. You’ll also get the dedicated service and support that distinguishes our offerings.

Powerful health plan integrations

The unique relationship between over 120 health plans and HealthEquity allows for true data integration. Unlike most other health account administrators who claim to have “integration,” our solution is complete. Our proprietary technology allows claims, eligibility and other data to be imported directly into our flexible system. This results in a smooth experience with less paperwork and powerful tools. Our flexible platform also allows integration with third party engagement applications, such as price transparency tools and telemedicine.

We’ll work with your employees so your benefits department isn’t overwhelmed

When first transitioning to HSAs and high-deductible health plans, employees may still be more comfortable with high-premium health plans. Because of our comprehensive employee education program and account mentors that are available 24 hours a day to work directly with your employees, your HR department can refer employees to HealthEquity with questions about their HSA.

Easy HSA implementation

Our streamlined process makes implementing HSAs easy for employers. With powerful technology and an expert implementation team, we provide a convenient launch process with three easy phases:

Preparation

• Begins: 45+ days prior to effective date
• Lasts: 10 days prior to effective date

Integration

• Begins: 25 to 35 days prior to effective date
• Lasts: 15 days prior to effective date

Go live

• Begins: 15 days prior to effective date
• Lasts: 0 to 3 days prior to effective date

Get access to our integrated benefits ecosystem

HealthEquity's proprietary platform is flexible and uses cutting-edge technology for data integration with:

• Health plans
• Retirement accounts
• Health care price comparison tools
• HSA investments
• Wellness incentive programs
• Telemedicine

With all of these tools accessible in one location, members are able to capture a quick snapshot of their entire personal health and wealth outlook.

Product offerings

• Health savings account (HSA)
• Flexible spending account (FSA)
• Retirement account (401(K))
• Limited purpose flexible spending account (LPFSA)
• Dependent care reimbursement account (DCRA)
• Health reimbursement arrangement (HRA)
• Health incentive account (HIA)
• Post-deductible flexible spending account (PDFSA)
• Post-deductible health reimbursement arrangement (PDHRA)
• Commuter
• COBRA

Health plan premium savings for employers and employees

Traditional health plan premiums have risen consistently recently and are projected to continue increasing. But employers who have HSA-qualified health plans in place for their employees tend to see lower rate increases. Both employers and employees can save money as a result of lower premiums with HSA-qualified high-deductible health plans. Many employers use the savings achieved through HSA strategies to fund their employees’ HSAs, add additional benefit offerings or to retrain staff they may otherwise lose due to cost-cutting measures.

Compare your health plan to an HSA and qualified high-deductible health plan

Our convenient, easy-to-use tool helps businesses and employees compare the benefits and savings from an HSA-qualified plan versus traditional health plans. By entering an estimate of annual medical expenses, individuals are shown a side-by-side comparison of their available health plan options, providing personalized data to help them make informed health plan selections. Users can also email their personalized results to themselves for ongoing reference.

Try it now

Customizable for groups of any size

The plan comparison tool can be preloaded with plan design details and customized for all groups - no matter the size. A custom URL is provided for every tool, unique to each employer. Your employees can compare the plans you’re offering to find the one that works best for them.