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Posted October 8, 2020

Simplified, Custom HSA with WEX

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In the world of providing healthcare benefits, the health savings account (HSA) is one of the most versatile solutions for participants in high-deductible health plans (HDHPs). From using the account to pay for eligible medical expenses, building up a nice nest egg for retirement (similar to a 401(k)), to choosing to invest, participants can use their HSA in the way that works best for their lifestyle.

The only problem? 

Offering a solution that meets the needs of all your participants can get complicated quickly, especially when you also need to choose a solution that meets the needs of your business.

Luckily, you can build your custom, simplified HSA with WEX! With HSAs from WEX, you can:

  • Customize your HSA offering in the way that works best for you. 
  • Streamline the onboarding and management of every HSA. 
  • Use state-of-the-art HSA investment technology. 
  • Simplify administration for employers (of all sizes).
  • Personalize the experience for participants. 

Let’s dive into the details:

Customize your HSA offering in the way that works best for you. 

Whether you need full administration, a trusted custodian, or a completely customized option, you can create an HSA package that makes the most sense for you and your participants. 

Streamline the onboarding and management of every HSA. 

You can stay in control of the entire employer and participant experience and make sure they know who their administrator is, how to use and take advantage of their account, and where to go for help when they need it.

Use state-of-the-art HSA investment technology. 

From investment allocation models, brokerage account options, custom fund lineups, and the ability for participants to manage their HSA on-the-go with our mobile app, WEX makes it easy for participants to invest. Plus, we make it easy for partners to work with your preferred financial adviser on custom fund lists for investments.

Simplify administration for employers (of all sizes). 

Employers can take advantage of innovative features that simplify the administration process, such as simplified contribution processing that allows employers to fund HSA contributions in the way that works best for them, group HSA transfers, and accelerated HSA contributions (just to name a few). Plus, we make it easy for employers to mirror their 401(k) investment lineup with their HSA offering.

Personalize the experience for participants. 

Whether your participants are spenders, savers, or somewhere in between, WEX helps you personalize their experience so they can make informed decisions about their account (in the way that works best for their lifestyle).

Here’s another quick breakdown of how we make it easy to build a custom, simplified HSA:

For partners

When you partner with WEX, you get a completely custom HSA package built for the needs of your business, your employers, and your participants.

For consultants and brokers

We make it easy for you to recommend WEX to your client by offering custom technology solutions to meet the needs of every organization alongside a service experience that’s second to none. 

For employers

With streamlined processes to ease the burden of HSA administration, employers of any size can easily offer an HSA without the hassle on their end

For participants

With one debit card, one online account, and one mobile app to manage their HSA, participants get a simplified and personalized experience right from the start.

When you’re ready to build your custom, simplified HSA with WEX, contact us to get started. Already a WEX partner? Get in touch with your Partner Account Executive to get more details.

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