Why HSA Benefits for Employees Matter
A New Way to HSA
Discover an innovative Health Savings Account (HSA) that maximizes value for employees and employers with cash back rewards and automated tools. InComm Benefits is ready to elevate your workplace with HSA benefits that are truly for everyone.
Rethink Your Employee Benefits
HSA may stand for Health Savings Account, but we believe it could also stand for Health “Spending” Account. HSA benefits can be valuable tools for account holders to manage rising healthcare costs, but the industry has historically focused on “savers” who use HSAs for investment and growth opportunities. InComm Benefits offers a new way to HSA with a focus on “spenders” who may be missing out on using HSA funds on eligible expenses.
The InComm Benefits HSA delivers automated tools that make it easier to both spend funds on eligible purchases and save funds for potential growth opportunities. It all helps maximize value for both employees as well as their employers who provide our HSA in their benefit packages.
Cash Back¹
The InComm Benefits HSA offers an industry-first incentive where account holders can earn 2% cash back on all purchases. Reimbursement is monthly, and the app tracks cash back earned. The cash rewards are credited to their HSA account, helping employees grow their balance.
Automated Experience
For an easier spending experience, InComm Benefits offers account holders a unified debit card that connects to an HSA account and an HSA Backup account (which can draw funds from an individual’s primary bank account.) This connection enables our platform to automatically detect and route eligible healthcare expenses to the HSA, while non-eligible purchases are charged to the HSA Backup account.
In-App Prompts
The InComm Benefits HSA app features personalized notifications and alerts to guide account holders through complex topics such as investment opportunities, tax savings, expense eligibility and more.
Tax-Saving Insights
Employees who are uncertain about how to get the most value out of their HSA can receive personalized tax-saving insights through the InComm Benefits app.
Spend Now, Contribute Later
When account holders can’t contribute to their HSA upfront, InComm Benefits offers options to help. Account holders can use a personal bank account to pay for expenses now, contribute to their HSA account later, and at any time use the InComm Benefits mobile app to quickly reimburse themselves!
Benefits Tailored to Your Program Needs
We also offer complementary benefit programs to strengthen the value employees receive from their HSA. Additional benefit packages include:
Flexible Spending Accounts
FSAs allow employees to deduct a portion of their paychecks to use pre-tax dollars for healthcare and dependent care expenses without incurring Federal Income Tax, FICA, and most state taxes.
Health Reimbursement Agreement
The HRA is an employer-funded plan designed to reimburse employees for qualified medical and healthcare expenses. HRAs offer a flexible method for employees to handle healthcare costs by using funds for various healthcare-related expenses such as deductibles, co-payments and other out-of-pocket purchases.
Commuter Benefits²
Help employees manage their daily commutes with a debit card and account designed to receive pre-tax dollar contributions that can be used for parking and transit costs. This benefit package offers up to 30% savings on commuting costs and enables account holders to reserve parking through SpotHero.
COBRA³
If your employees leave your company, the Consolidated Omnibus Budget Reconciliation Act (COBRA) gives them and their families the right to choose to continue group health benefits provided by their group health plan for limited periods. Our solutions help ensure your organization can maintain COBRA compliance and support your employees as they transition to a new position.
That’s only the tip of the HSA iceberg. Want a deeper dive? Check out our Employer Resources or our customized content below:
¹Subject to terms and conditions. The maximum amount of Cash Back that can be accrued for the calendar year is $200. A calendar year is considered January 1 – December 31. Once the $200 limit is reached, account holders will stop accruing Cash Back on transactions for the remainder of the calendar year.
²Commuter Benefits administered by Jawnt. Jawnt is a financial technology company and is not a bank. Banking services provided by Pacific West Bank; Member FDIC. The Jawnt Visa® Debit Card is issued by Pacific West Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
³COBRA benefits administered by Peak One Administration. For more information visit peakoneadmin.com.
InComm is a financial technology company, not an FDIC-insured bank. Banking services are provided by Coastal Community Bank, Member FDIC. The InComm Visa® Debit Card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc. InComm spending accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. FDIC insurance only covers the failure of an FDIC-insured bank. FDIC insurance is available through pass-through insurance at Coastal Community Bank, Member FDIC, if certain conditions have been met.
Investment products are provided by Devenir Group, LLC. Investment products are not insured by Coastal Community Bank, the FDIC, or any Federal Government Agency, are not a deposit, and may lose value.