A Health Savings Account (HSA) is a tax-advantaged savings account that is used in combination with a high-deductible health plan. HSAs are funded by pre-tax dollars that are deposited into an account by you and your employees, usually through payroll deduction. Unlike Flexible Spending Accounts, HSAs are not “use-it-or-lose-it” accounts and the balance carries over each year.
Voya’s HSA solution helps ensure that your employees are “future ready.” We do this by combining the highest levels of service, technology and educational tools to help your employees plan, save and invest in their financial health and wellness.
- Reduce FICA and FUTA payroll taxes when employees make pre-tax contributions.
- Save time with our service support and detailed reporting features.
- Access web-based, fully integrated portals with 24/7 access to account information.
- Integrate multiple accounts and features onto a single platform.
- Ensure consistent messaging through automated communication.
There are triple tax advantages:
- Contributions are pre-tax and reduce taxable income.
- Grow funds tax-free.
- Withdrawals for eligible expenses are tax-free.
Contact your local sales representative for more information.
HSAs are individual accounts offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC) and administered by WEX Health, Inc.