Health Savings Accounts (HSAs)

Imagine. Giving your individual clients the gift of less expensive monthly premiums and the opportunity to set aside tax-free money for that higher deductible. Health Savings Accounts can help you make it happen. Whether you need an HSA solution for an individual or their entire family, an HSA from Flex is the answer.

Best of all, the tax-free contributions made to the HSA will roll over year-to-year and function as a secondary retirement account with investment options. Throughout the years, their funds can be used to pay for eligible healthcare expenses, or once the accountholder reaches retirement age the funds can be withdrawn completely with no penalty – it’s their choice!

What are the Benefits of an HSA?


The concept of a Health Savings Account (HSA) ties together the ideas of rewarding ourselves for living a healthier lifestyle and saving for retirement, which go hand-in-hand. HSAs help your clients save money in three ways.

  1. Your clients will enjoy a typical premium savings of up to 20% by enrolling in a high-deductible health plan (HDHP) versus a standard health plan.
  2. It helps your clients understand the “true” cost of healthcare which ultimately encourages them to spend more wisely and be healthier with their choices.
  3. A Health Savings Account is a tax-advantaged program, which means your clients will decrease their taxable income with every dollar they contribute, and have the ability to earn interest on this money through investment options.

Plus, according to HSA rules these funds rollover and can be withdrawn at any time for eligible healthcare expenses, or for anything once the accountholder reaches retirement age.

Need help getting started? With Flex you get piece of mind knowing that we are here to guide you every step of the way – saving you precious time and energy. As an HSA Administrator, we offer a first class experience that puts your clients in control and offers features that include:

  • Fast reimbursement of eligible expenses with options to receive payment by check, direct deposit or pay the provider directly
  • Easy access to funds with HSA debit cards that can be used at the doctor’s office, pharmacy, discount chain and club stores and more!
  • Secure web portal with online claim submission, real time account information, online help tickets, investment services and more!

Plus, we are an integrated HSA vendor with compatible Blue Cross® and Blue Shield® group plans in Illinois, Montana, New Mexico, Oklahoma and Texas.

Request a proposal now! 

View More Plan Features

Educational Guidance

Payment Options for Eligible Healthcare Expenses

  • Debit card at point-of-sale
  • Provider Payments – Submit an invoice from the provider and schedule the bill to be paid directly from the HSA
  • Reimbursement Requests - Pay out-of-pocket at the time of service and request reimbursement by check or direct deposit

Investments

  • $1,000 investment threshold
  • Devenir brokerage services
  • Mutual funds
  • Manage HSA and investments online:
    • Buy / Sell
    • Realign portfolio
    • Investment activity
    • View fund performance

Personalized Service

  • Live one-on-one customer care with dedicated specialists
  • Web portal - Integrated real time plan access
    • View contributions, claim activity and payment history
    • Schedule individual contributions
    • Enter claims for electronic or check reimbursement for expenses paid out of pocket
    • Enter claims to pay providers directly from the HSA
    • Request an HSA debit card for spouse or dependents
    • Access educational tools and resources

Health Savings Account (HSA) FAQs

Here are the answers to some Frequently Asked Questions (FAQs).
These will help you better understand this product and its primary functions.

What is a Health Savings Account (HSA)?

Does an HSA pay for the same things that regular insurance pays for?

What is included as “qualified medical expenses”?

What happens if the money in the HSA is not used for qualified for medical expenses

Who can contribute to an HSA?