Personal funding accounts offer your business a consumer-driven approach to improving the bottom line—combining quality healthcare coverage with a choice of tax-advantaged healthcare spending accounts.
Personal funding accounts:
- Give employees more choice and control over their healthcare spending
- Encourage a more health-conscious, productive and satisfied workforce
- Help employees offset out-of-pocket expenses with potential tax advantages
- Minimize costs and add an affordable healthcare program to the total compensation package
- Personal Funding Accounts take advantage of potential tax savings for your business (please consult a tax advisor regarding IRS guidelines)
With LifeWise, you can provide personal funding account options with the following key features to make the transition smooth and maximize the effectiveness:
- Claims feed integration – reduces lag time and questions about claims
- Easy account accessibility – all through our website with options via telephone
- Healthcare payment card option – for Metallic HSA and FSA plans
- All through LifeWise – seamless integration of set-up and administration with your health plan
The Basics of Personal Funding Accounts
LifeWise offers the following personal funding account options. After choosing your group benefit plan, you may pair it with one or, in some instances more, of the following: