These accounts all offer consumers and businesses financial benefits, but there are components about each that set them apart. A consumer-directed healthcare account is an account that can help pay for medical expenses. It can be set up by an individual or offered through the employer. These accounts give account holders more control over their healthcare dollars.
Allows employees to reduce their gross income, effectively reducing the amount they pay in Federal, Social Security, and some State taxes. The employer also realizes savings on FICA withholding tax for each participating employee.
Provides monthly consolidated billing administration to pay carriers directly as well as robust reporting data and historical reports. Employees have access to the portal 24/7/365 as well as a mobile app that provides ID cards, and real time updates.
Allows eligible employees and their dependents the continued benefits of health insurance coverage when an employees loses their job or experiences a reduction of work hours.
Designed to improve and promote employee health conditions. Gives employees incentives, support, privacy and strategies to adopt and maintain healthy behaviors.
