As an employer, providing a robust employee benefits package is only half the battle. Educating on the value of their benefits and how best to use them is equally important. We recently surveyed nearly 60,000 of our participants. One of the questions we asked: What benefit would you like to learn more about?. In this article, we share the top three benefits they said they would like more education on to help you prepare for your upcoming open enrollment.  Health savings accounts (HSAs)   HSA participants save money by contributing funds to their HSA pre-tax. The funds are then a ..read more

Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Below, we’ve outlined the key differences of an HSA vs. FSA so you can see how they work, the advantages to each, and why you should participate in them. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. Health savings accounts have a triple-tax advanta ..read more

Visual health is a vital component of overall well-being, and unexpected eye-related expenses can put a strain on your finances. However, for participants of health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are ways to alleviate the financial burden associated with vision-related costs. Let’s explore a few common vision-related questions as it relates to your HSA or medical FSA. Can vision expenses be covered by HSAs and FSAs?  HSAs and FSAs can cover certain vision-related expenses. It's important to note that the extent of coverage might vary based on y ..read more

HSAs. FSAs. LSAs. If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” In the second blog post in our three-part series to educate first-time participants, we walk through a few factors you should consider when choosing among employee benefits accounts for the first time.  Click here for the first blog post in our series on choosing a health plan for the first time. Considerations for choosing benefits When evaluating your options, consider your personal circumstances, health status ..read more

Roughly 1 in 6 adults worldwide are affected by infertility. Reasons can vary, which is why wide-ranging fertility benefits can also improve the lives of any adult wanting to start a family. And did you know that a variety of fertility and infertility treatments are eligible for health savings account (HSA) and medical flexible spending account (FSA) funds? Keep reading if you're interested in supporting your employees with these needs. What are fertility benefits? Fertility benefits provide support and financial assistance to individuals or couples seeking fertility treatments or services. Th ..read more

Open enrollment is nearly here for many of you. You’re looking to create an atmosphere where employees are engaged, eager to enroll, and save money with the benefits you provide. You’ve probably read advice on how to do that, but we’ve got the data to back up a strategy, and it comes directly from your employees.  Earlier this year, we surveyed nearly 60,000 of our participants to learn more about their questions and pain points regarding employee benefits. Their answers revealed valuable insight to help you build out your open enrollment plans. We’ll help you understand the who, what, wh ..read more

The temperature is rising and summer is right around the corner! How’s your sunscreen stock? Sunscreen can cost as much as $40 a bottle, but did you know you can actually use your health savings account (HSA) or medical flexible spending account (FSA) funds on many SPF-related expenses? We break down their HSA and FSA eligibility so you can be ready for some sun! Sunscreen There’s a good chance you’re planning on spending some time in the sun over the next few months. You’re going to need sunscreen, and you need to be sure you’re choosing the right kind. Children’s sunscreen, suntan lotion wit ..read more

Many Americans invest and prepare for retirement the same way they did decades ago, but what worked 40 years ago might not be the best approach today. Fortunately, there’s an often overlooked way to help employees build wealth and prepare for retirement. And it’s a solution you might already be offering: the health savings account. Why HSAs for retirement planning? These accounts provide another way for your employees to diversify their efforts to prepare for retirement. That's important considering that a 65-year-old couple retiring in 2020 would need an average of $351,000 in healthcare cost ..read more

Benefits options matter. That's no surprise anymore. Thanks to technology, AI, and more personalization, we’re in a consumer-first age unlike any other. You can watch shows when you want, where you want. When you’re done streaming your favorite series, you’ll be targeted by more shows that align with your viewing habits. Today’s consumer expects options that meet their needs.  Those same habits are hard-wired into everything we do. Keep that in mind as you approach open enrollment for your employees. We recently surveyed nearly 6,000 of our participants, and 23% told us they don’t feel th ..read more

Dental expenses can be a significant financial burden, especially when unexpected dental procedures arise. For those who have health savings accounts (HSAs) or medical flexible spending accounts (FSAs), there are opportunities to save money on these expenses. We answer a few common dental-related questions as it relates to your HSA or medical FSA.  Can I use my HSA or medical FSA to pay for dental expenses? The good news is that an HSA or medical FSA can be used to pay for certain dental expenses! Keep in mind that there may be some limitations and exclusions depending on your specific pl ..read more