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Health Savings Accounts
1. What is a Health Savings Account?
A Health Savings Account (HSA) combines the efficiencies of a high-deductible health plan with extensive banking and investment
options in a tax-free account. HSAs can be established by an eligible individual or by an employer for an eligible employee. HSAs are
funded and owned by the account holder and are portable. Any unused funds remain in the account and grow tax-deferred until withdrawn
for qualified medical expenses - the funds remain in the control of the account holder. More and more individuals and employers see
HSAs as a smart way to prepare for rising healthcare costs in the future while saving on taxes today. Our integrated FlexHSA®
offers a unique approach to Health Savings Accounts.
2. What makes FlexHSA® unique?
FlexHSA® combines the efficiencies of a high-deductible health plan with
extensive banking and access to investment options to offer the complete HSA experience - through a single point of contact.
FlexHSA® offers benefit expertise, easy access to your funds through a debit card or checking capabilities, a broad range of
investments, and an internet-based technology platform,
Personal Cash Manager (PCM), that enables you to manage and view all of your banking and investment activity in one account.
We offer flexibility and choice through two account levels: the
Premier Account, tailored to individuals who want to accumulate and grow their assets
and the
Traditional Account, for those only seeking basic banking services.
3. Are there limitations on the investments I can make in my HSA?
While the majority of HSA administrators offer a limited selection of investments or a simple interest-bearing checking account,
FlexHSA® is unique in our ability to offer open architecture -- to accommodate a broad range of investment options. FlexHSA®
allows you to select virtually any traditional or alternative investment, including: stocks, bonds, nearly 10,000 mutual funds,
hedge funds, limited partnerships and more.
4. How can I view and track investments and available assets in
my account?
Our unique online technology platform,
Personal Cash Manager (PCM),
allows you to access and manage your banking and investment activity in a single location.
This includes the trading capabilities in stocks, bonds and mutual funds; account summaries; transaction histories;
portfolio allocations; monthly statements; a downloadable list of investments and more. PCM integrates all of your FlexHSA®
activities into one single account. A Personal Cash Manager demo is available at
www.flexhsa.com.
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