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What is a Health Savings Account (HSA)?

It is a tax-advantaged medical savings account for participants in a qualifying high-deductible health plan (HDHP).

Step 1

When a participant enrolls, they or their employer can contribute funds from their paycheck tax-free!

Step 1

A participant can choose to use those tax-free funds to pay for eligible medical expenses, save for retirement, and/or invest.

Pay. Save. Invest.

With an HSA, participants can pay for healthcare expenses, save for the future, and/or invest to build wealth. No matter what a participant needs, partners can build a custom, simplified HSA offering with WEX.

Pay for Healthcare Expenses

With WEX, participants can easily spend their funds on medical expenses, track costs, and manage reimbursements in one platform, using one mobile app, with ONE debit card for all of their health, wellness, and commuter benefits.

Simplify your health savings account (HSA)

Save For The Future

Whether the investment fund list is curated from an RIA (registered investment advisor) or matches the employer’s 401(k), participants can easily manage their investments using their online account or mobile app.

Invest To Build Wealth

With more than 5,000 funds to choose from, participants have greater control over their investment strategy when they set up a brokerage account. Better yet: Every trade is free, and there is no cost to our partners or employers to set it up.

On-The-Go Access

Whether participants need to quickly upload a receipt, view their account balance, or manage investments, our mobile app keeps their account at their fingertips (even when they’re on the go).

Health Savings Accounts (HSAs) from WEX

From custom options for partners, to personalized experiences for participants, WEX simplifies HSAs for everyone.

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

Key features

  • Build your custom offering based on your tech and servicing needs
  • Work with your preferred financial advisor on custom fund lists for investments
  • Leverage best-in-class customer service and robust integration solutions

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.

Key features

  • Benefits consolidation creates a unified experience across FSA, HSA, HRA, commuter benefits, COBRA, and more, including streamlined onboarding, ongoing administration, and renewal
  • Bulk transfer options to support an HSA move for even the most complex organizations
  • Fully customize the technology experiences to your client’s needs, with your client’s brand

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.

Key features

  • Use Bulk HSA Transfer to assist in transferring your employees’ old HSAs to their new HSA custodian
  • Easily mirror your 401(k) investment lineup with your HSA offering
  • Leverage HSA Advance, which lets your participants tap into contributions before they’ve built a balance

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

Key features

  • Online account with expense dashboard to manage and track your HSA and fully integrated investment solution
  • Easy-to-use mobile app that lets you do everything from their phone or tablet
  • One debit card for their health, wellness, and commuter benefits
  • Personalized messaging, no matter how you use their HSA

Data + Personalization = Better HSA Experience

Learn how to drive a better HSA experience using data and personalization.
Learn more

Build Your Custom, Simplified HSA with WEX

Customizable, streamlined, innovative, simple, personal. It’s the WEX difference, and we’ve built (and continue to invest in) a solution that benefits partners, employers, and participants.

Customize your 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 onboarding and management.

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 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.

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 contributions in the way that works best for them, group transfers, and accelerated contributions (just to name a few).

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).

Get More Information from WEX

Download your resource by simply clicking on the image to get all the details you need on HSAs from WEX for partners, consultants, brokers, employers, and participants.

Join Us For HSA Day

National HSA Awareness Day unites the public and healthcare benefits industry to discuss the power of these accounts and their impact in fighting prevalent healthcare issues facing Americans today.

Save the date:

October 15, 2021

 

LEARN MORE ABOUT THE EVENT

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