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Employers were sent the following communications:
The monthly premiums for HSA-qualified high deductible health plans (HDHPs) are usually lower than the premiums for traditional health plans, so if your company pays some or all of these premiums for your employees, you can expect to save with an HDHP. Talk with your insurance broker or benefits consultant about your options.
In addition to saving on monthly premiums, employers can save up to 10% on payroll taxes by contributing (and encouraging their employees to contribute) to an HSA.
Find out how much your company could save with our Employer Cost Savings Calculator.
We get this question a lot, and we’re happy to offer a few recommendations:
After your company has been set up, and you have received your Employer Portal username and password, you can enroll employees online via eligibility file upload. (See this FAQ below: “How do I upload an eligibility file?”.)After the file upload, your employees will receive an email with instructions for setting up their personal username, password, beneficiaries, investment elections and other account-related information, including e-signing the account custodial agreement. Employers may also fund their employees’ accounts after the file upload.
If any employees don’t receive the email after the eligibility file upload or don’t click the link to their account, then they may log into their account later using their Social Security Number and date of birth.
After your company has been set up, you have received your Employer Portal username and password, and your employees have fully enrolled, you can fund employees’ accounts via ACH/EFT pull, wire or check.
We offer a variety of informative brochures, online calculators, health care pricing resources, IRS guidance and more. Plus, our friendly employer liaisons are only a call or email away.
Simply log into the Employer Portal, then click on “Company Settings.” From there, click “Add a bank account” and enter your banking information, then click “Save.” There are no forms required, and you may set up more than one bank account, if desired.
To upload an eligibility file for your employees:
The file you upload will not overwrite or make edits to existing participant information. If you’d like to update existing participant information, call or email your account manager, and they can assist you. Also, you can view a report of your participant file upload by clicking on Confirmation Histories in the navigation bar, then selecting the report you just uploaded.
IMPORTANT: We cannot accept contributions for employees who are not enrolled. If you are not sure if your employees are enrolled, contact us.
To upload a contribution file for your employees:
For Select File, click “Choose .csv File” and select your contribution file. Click “Download Template” if you’d like a guide to show you what information you need.
For Process Contributions, select “Test Payroll Contribution File” to run a test file (to make sure there are no errors). Otherwise, select “Process Payroll Contribution File.”
For Account Transfer Method, select ACH/EFT, Wire or Check. If “ACH/EFT” is selected as the account transfer method, you’ll need to select a source. You can select an existing banking profile or add a new banking profile. (See “How do I save our company’s banking information?”)
IMPORTANT: We cannot accept contributions for employees who are not enrolled. If you are not sure if your employees are enrolled, contact us.
To make employee contributions via direct entry:
After your request has been submitted, we will begin processing your request on the NEXT RUN DATE, funds will be distributed to employee accounts on the NEXT PAYMENT DATE and employees will have access to the funds on the day AFTER the NEXT PAYMENT DATE. Please allow 3-4 business days for processing.
IMPORTANT: The amount of your ACH/EFT must match your contribution information exactly, or there will be delays.
IMPORTANT: When wiring money, the amount must equal the total on the contribution file exactly, or the wire will be rejected. Funds are distributed into employees’ accounts upon receipt.
IMPORTANT: When mailing a check, the amount must equal the total on the contribution file exactly, or the check will be returned. Funds are distributed into employees’ accounts upon receipt.