Spending accounts are a great way to help your team save money on qualified medical expenses. And having your health plan and spending accounts in one place makes life easier — for everybody.
Let’s streamline your health care solutions. Integration means that your company can get personalized help with your health plan and spending accounts from one team.
Your team can also get a more streamlined health solution. Not only can they manage both their spending account and health plan in one place, but integration also makes paying claims easier.
Every health plan should be paired with a spending account. This chart will help you find the right spending account for your business.
Health Plan Type
Employee Premium / Deductible
Employee Out-of-Pocket Expense
Spending Account Pairing
Qualified High-Deductible Health Plan
Low / High
Higher
Health Savings Account + Limited Purpose Flexible Spending Account
Traditional Plans
High / Low
Lower
Flexible Spending Account and Health Reimbursement Arrangement
Traditional Health Plan with Higher Deductible
These spending accounts can be paired with any plan to help your employees pay for qualified transportation, child care, and even some adult care expenses.
To see how different spending accounts are used, check out this chart.
HSA
HRA
FSA
Pay for deductibles/coinsurance/copays
Yes
Pay for dental/vision/prescriptions
Pay for dependent care
No
Account owned by
Members
You
Invest money for future expenses
Funded by
Members*
You are required to have a Qualified High-Deductible Health Plan
Money is transferable if you change jobs/change plans/retire
Can reduce your taxable income
Debit card available
* Employers may choose to contribute. The IRS sets different limits on contributions to HSAs and FSAs.
We're happy to walk you through which spending account options are right for your company.