Integrated HSAs, HRAs, and FSAs
Lower your healthcare cost contributions, create tax savings for your business and lower your bottom line while giving your employees more control over how they spend their healthcare dollars, help support healthy lifestyle choices and create tax savings.
Cost effective and easy
The last thing you need is a complicated process for administering financial accounts. Providence Health Plan and HealthEquity work together to provide:
- Integrated enrollment and eligibility for HSAs and HRAs
- Coordinated account setup
- Integrated billing for HSAs and HRAs
- Unified claims administration for HSAs, HRAs and FSAs
- Members have access to online account tools with their secure myProvidence account as well as HealthEquity's 24/7 customer service.
Integrated health savings accounts (HSAs)
HSAs are employee-owned bank accounts where money is deposited — by employees, employers, and family members — to be used for an employee’s current and future healthcare expenses.
- They offer lower premiums allow you to use savings to fund your employees’ accounts
- They encourage employees to be more accountable for their healthcare spending
- They provide payroll tax savings via employees pre-tax contributions
- They help attract and retain excellent employees
- They create personal and organizational savings in the long run
Health reimbursement arrangements (HRAs)
HRAs are employer-owned accounts used by employees for their qualifying medical expenses, such as deductibles, copayments, coinsurance, and sometimes additional expenses such as dental and vision care. Employees do not contribute to their HRAs.
- They can be customized to fit specific business needs — you decide the amount to contribute, as well as plan benefits and limitations
- They can be used in conjunction with almost any medical plan
- They help provide incentives for healthy choices and behaviors
- The unused funds remain with your organization
Flexible spending accounts (FSAs)
FSAs allow employees to set aside pre-tax dollars from their paycheck to help pay for their family's healthcare costs throughout the year. This includes deductibles, copays, and coinsurance, as well as dental and vision care, hearing aids and other IRS-approved medical expenses. Also available are Limited Purpose Flexible Spending Accounts, which can act as a bridge to reimburse employees for dental and vision care.
- They make it convenient for employees to set aside pre-tax dollars
- They can be paired with other HSA and HRA accounts
- The help encourage employees to be more accountable for their health care spending
Explore the benefit highlights for our small and large group employers.Small group employer toolkit Large group employer toolkit
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Check out our other add-on services and buy-up options
More is more. Enhance your comprehensive health plans with supplemental services to provide a truly unique benefits package.Show me more add-on services