Health Savings Account Information | Health Net

What is a Health Savings Account (HSA)?

As an employer, the more health benefits and value you can offer your employees the better. One option, a health savings account (HSA), lets employees set aside a part of their pre-tax income to an interest-bearing account. The account can be used to pay for medical bills and medications. Any member that has an HSA-compatible, high-deductible health plan can add to an HSA. Benefits include:

• Savings stay with the member even if he or she changes jobs.
• No time limit on using funds.
• Deposits are free of employer and employee payroll taxes.
• Low premiums.
• No referrals.
• Combined medical and pharmacy deductible.
• Tax-free deposits.
• Rollover savings.
• Earning interest on the HSA.

Account management system

Health Net offers a proven resource for both HSA and health reimbursement arrangement (HRA) health plans through HealthEquity. HealthEquity, is a financial account administrator. It provides expertise in finance and account management.

HealthEquity presents a whole new level of ease, service and choice for you and your employees. They offer easy-to-use tools and a wide range of helpful resources. You and those you employ can make the most of this streamlined account management system. Best of all, it's championed by Health Net at no added cost.

The HSA/HRA way

Our HSA/HRA products are a chance for you to offer smart and savvy health plans to your employees. By doing this, you'll help them to build health savings. They will also profit from useful tax savings. And it means the people you employ will be able to have a record of their claims and what to pay or not pay. Other benefits include:

• Savings on premiums.
• Tax-free deposits into an HSA account.
• Savings rollover year after year. This allows for future medical spending.
• Employer deposits to medical spending account.
• Savings build fast.

The HealthEquity customer service team and website are valued resources. Your employees can expect:

• Free HealthEquity phone support any time.
• Online account access via a link from HealthNet.com (post log-in). They can get claim, balance and transaction information.
• Free investment options on the HealthEquity Investment Platform.

Please contact your broker or Health Net sales agent for more information. Or, visit the HealthEquity website.

EZ Access HSA Plans

Health Net's EZ Access HSA plans for groups allow employees to control their own HSAs. They can get low monthly premiums. You can gain potential tax savings. It's a win-win. To top it off, your employees can use any financial institution of their choice. Or, they can open an HSA in one of our high-deductible health plans through Bank of America.

Access

Members have 24/7 access to their online account. This includes:

• Online bill pay.
• Expense tracking.
• Investments tracking.

Note: A Bank of America HSA Visa^® debit card makes paying medical bills easier.