Employer Administration
We strive to make the administration of HSAs as easy and convenient as possible for employers. We perform the following administration services for your HSA program.
- Government Reporting. We will do required government reporting for the HSA: Contribution, Distribution and Fair Market Value Reporting – as required on IRS Forms 1099-SA and Form 5498-SA.
- Reporting to Employees. We provide a mailed statement to each employee reflecting contribution, distribution and balance information.
- Online Reporting/Access to Employees. Ask about on-line account access.
- Medical Expense Review/Reporting The employer does not have to collect, review, audit or otherwise have any responsibility over the employees medical expenses paid for through the HSA. We do not audit or review employee expenses. We provide a tool for employees to maintain a record of their medical expenses and the employees should save their receipts. See Medical Expense Tracking Worksheet.
- Contributions. We will work with you to find the most convenient method for you to make contributions into your employees HSA. The three most common methods are: (1) through ACH deferrals directly from the employer’s bank account, click here for an Employer Information Worksheet to establish this service, (2) by sending us a periodic check at your discretion along with the Employee Contribution Form, or (3) via your own spreadsheet instructing us on how to allocate it among your employees.
If you have any questions or would like to schedule a meeting with an experienced HSA consultant contact one of our HSA representatives.
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