With a health care payment card, users can easily access funds from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs) without having to pay out-of-pocket and seek reimbursement later. It’s similar to a debit card, as it’s a fast and convenient way to pay for medical expenses. Learn how both employees and employers can reap the benefits when these cards are offered.
If the 2020 benefit year taught us anything, it’s that we can’t have too many virtual tools in our benefit toolbelts. If you had a chance to check out our previous Broker Tech Check blog, we covered compliance technology, virtual enrollment, and online management solutions. In this article, we’ll dive a little deeper to help you continue to refine your technology recommendations in this year and beyond.
These days, more people are opting for high-deductible health plans (HDHPs), which means more people are also opening health savings accounts (HSAs) to offset out-of-pocket spending. Whether you spend or save HSA dollars, you will still reap the rewards of these tax-advantaged accounts. It's a matter of saving now or saving later! Read about the types of HSA owners to see what category you fall into—spender, saver, or rainy day-er!
There is no such thing as too early or too late to start saving for retirement. As the cost of health care continues to rise year after year, health savings accounts (HSAs) are gaining steam as a necessary means to cover medical needs now and long-term care costs in retirement. If you are wondering what an HSA really does and how much should you contribute, our HSA Growth Estimator calculator* may help!
Offering a benefits app is an easy and effective way for employers and brokers to educate people about the value of the benefits package they provide using smart, consumer-driven technology. Learn about the advantages of benefits apps and CYC’s custom solution myCYC mobile app in our new post!
With companies going fully remote, benefits brokers must rely more heavily on technology to keep up with changes in the industry and manage clients. If you haven’t looked into tools that can improve your virtual strategy, consider a solution like BROKERcommand, an online platform that streamlines client management and benefits administration.
We created this HSA investing article to cover the basics of how and why you might choose to invest HSA funds to grow your health care savings over time. By investing in your HSA, you are also investing in your health and well-being later in life!
In recent years, health care payment card usage has skyrocketed. These cards are, no doubt, a convenient way to pay for eligible items and services. But how do these cards work? And what does the future hold for this payment option? We’ll cover the benefits of using a payment card, dive deeper into how they work, and discuss payment options of the future.
In this post, learn how online enrollment events and resources can be even more empowering for employees and get some tips for making the switch successful.