Integrated HSAs, HRAs, and FSAs

Lower your healthcare cost contributions, create tax savings for your business and lower your bottom line while giving your employees more control over how they spend their healthcare dollars, help support healthy lifestyle choices and create tax savings.

Cost effective and easy

The last thing you need is a complicated process for administering financial accounts. Providence Health Plan and HealthEquity work together to provide:

• Integrated enrollment and eligibility for HSAs and HRAs
• Coordinated account setup
• Integrated billing for HSAs and HRAs
• Unified claims administration for HSAs, HRAs and FSAs
• Members have access to online tools with their secure HealthEquity account as well as 24/7 customer service
• Employers have access to a secure online platform for program administration and resources

Integrated health savings accounts (HSAs)

HSAs are employee-owned bank accounts where money is deposited — by employees, employers, and family members — to be used for an employee’s current and future healthcare expenses.

• They offer lower premiums that allow you to use the savings to fund your employees' accounts
• They encourage employees to be more accountable for their healthcare spending
• They provide payroll tax savings via employees pre-tax contributions
• They help attract and retain excellent employees
• They create personal and organizational savings in the long run

Health reimbursement arrangements (HRAs)

HRAs are employer-owned accounts used by employees for their qualifying medical expenses, such as deductibles, copayments, coinsurance, and sometimes additional expenses such as dental and vision care. Employees do not contribute to their HRAs.

• They can be customized to fit specific business needs — you decide the amount to contribute, as well as plan benefits and limitations
• They can be used in conjunction with almost any medical plan
• They help provide incentives for healthy choices and behaviors
• The unused funds remain with your organization

Flexible spending accounts (FSAs)

FSAs allow employees to set aside pre-tax dollars from their paycheck to help pay for their family's healthcare costs throughout the year. This includes deductibles, copays, and coinsurance, as well as dental and vision care, hearing aids and other IRS-approved medical expenses. Also available are Limited Purpose Flexible Spending Accounts, which can act as a bridge to reimburse employees for dental and vision care.

• They make it convenient for employees to set aside pre-tax dollars
• They can be paired with other HSA and HRA accounts
• They help encourage employees to be more accountable for their health care spending

Benefit highlights

Explore the benefit highlights for our small and large group employers.