Clarity HSAs: Health Care Savings Without the Hassle
All flexible spending plans are not the same. Clarity HSA gives employers and employees the tax savings they expect -- plus a simple, stress-free experience that only we can offer. Our program is simple to use, easy to manage, and automated for efficiency.
Unlike other HSAs, the Clarity HSA solution allows employees to manage their account and invest in real-time from a single platform. From this platform, employees can search for in-network procedures, facilities, and doctors, receive personalized suggestions for smarter healthcare spending actions, and access a virtual medicine cabinet to manage monthly drug costs.
When it comes to savings, there are two interest options for employees: High-Yield, backed by a group annuity product provided by a highly-rated insurance provider, and Traditional funds are backed by an FDIC-insured institution. With High-Yield, employees can maximize the value of their HSA by earning higher interest than in the traditional option.
There are also built-in predictive analytic tools to guide intelligent long-term funding decisions and a personalized Opportunities feed that delivers targeted contribution messages.
View our Clarity Benefit Solutions HSA Highlights Video.
A Simply Smarter HSA Solution
It’s no easy task to offer great benefits while controlling rising healthcare costs. If you offer a High Deductible Health Plan, did you know combining it with an HSA can be a money-saving solution for both you and your employees?
And, the right HSA service can also help you attract and retain talent while keeping employees healthy and engaged. That’s where the Clarity HSA comes in. We offer a health benefit solution with a simply smarter user experience and customizable investment options. On top of that, our HSA can even help cover surprise healthcare costs.
*See updated HSA Limits.
Next Generation Investment Experience
Clarity Benefit Solutions delivers a new and modern approach to HSA investing that allows employees to personalize their investment journey to fit their unique needs and experience level. With the WealthCare Saver investment solution, employees can choose from three different investment models – Managed, Self-Directed and a first-of-its-kind Brokerage option – all of which are designed to help them work toward their long-term investing goals. Best of all, it’s fully integrated with the Clarity HSA benefit solution, which means employees can manage all aspects of their HSA, including their investments, from a single portal.
Advance Funding for Unexpected Expenses
Built in Protection for life’s twists and turns. Life wouldn’t be life without unexpected moments. That's why the Clarity HSA administration is designed for the unpredictable. This health benefit solution comes with a built-in payroll advance to cover surprise healthcare costs, allowing you to have peace of mind at all times. Your people aren’t just covered — they’re confident they can keep expenses under control.
Standard HSAs Don’t Stack Up
Take a look at how a Clarity HSA compares to a standard HSA and you begin to see all the good things that can happen when you go the extra mile.
| STANDARD HSA | |
|---|---|
| Tax-free contributions, earnings, and distributions | Yes |
| Rolls over year after year | Yes |
| Portable from job to job | Yes |
| Built-in payroll advance for unexpected expenses | Nothing |
| Three investment options in one solution | Nope |
| Most competitive interest rates in the market | Nada |
| Allow employees to manage their HSA and invest in real-time from a single platform. | Zip |
| Relieves financial stress from your employees, helping them stay focused and productive | Zero |
THREE INVESTMENT MODELS ENSURE A PERSONALIZED APPROACH
Our investment approach allows you to provide your employees an integrated, modern HSA investment solution that not only helps them understand the value of investing but also helps them work toward their long-term investing goals. Whether your employees are new to investing and seeking a guided experience or seasoned investors looking to research and trade stocks and ETFs available on the platform, you can offer them an investment journey that is aligned with their individual needs. HSA investment accounts are opened in real-time, transactions are made in real-time and account data is viewed in real-time, which means your employees have full transparency into their assets and allocations.
MANAGED
Designed for novice investors who prefer to have our advisor tool automatically select and rebalance investments on an ongoing basis in accordance with their age and/or risk profile. This account type delivers a “do-it-for-me” approach to investing.
SELF-DIRECTED
Designed for intermediate investors who have the desire to self-select from a menu of monitored investment options covering multiple asset classes to diversify their portfolio, and then rebalance their portfolio manually. This account type provides a balance between do-it-for-me and DIY approaches to investing.
BROKERAGE
Designed for adept investors who desire to perform advanced research and trading across hundreds of individual stocks and exchange-traded funds (ETFs). This account type offers a hands-on, DIY approach to investing.
For savvy investors, the Clarity HSA also offers Exchange-traded funds (ETFs) that give employees lower costs and diversified market returns. Fractional trading up to 8 decimal points enables ownership of high-value stocks like Apple or Berkshire Hathaway for as little as a penny. And convenient features include auto-rebalancing, real-time account opening, and trading, on-demand investment statements, historical performance of available funds, and more.
How Accelerated funding Works
- Your employee has a high-deductible health plan and decides to participate in “built in protection”. As an employer, you decide how you want to use the “Built in protection” (advance amount, eligibility, and terms of repayment) and we automate the entire process.
- If your employee has a medical expense, but not enough money in their HSA to cover it all your employee has to do is swipe their Clarity Debit Card initiating a payroll advance.
- Our HSA administration platform creates an interest-free payroll advance funded by your company. Then it creates an employee paycheck deduction in your payroll system, which makes payback a breeze.
- The advance is paid back through small payroll deductions that are manageable for your employee.
- Financial anxiety is eased, your employee is grateful, and you bask in the glow of helping your people in a critical moment of need.
Qualifying Expenses
What Qualifies?HSA funds can cover costs for: | What doesn’t qualify?Certain expenses are not eligible, for instance: |
|---|---|
| Copays, deductible payments, coinsurance | Cosmetic procedures or surgery |
| Hospital charges | Dental products for general health |
| Prescription drugs | Personal hygiene products |
| Dental exams, x-rays, fillings, crowns, orthodontia | |
| Vision exams, frames, contact lenses, contact lens solution, laser vision correction | |
| Physical therapy | |
| Chiropractic care | |
| Medical supplies and first aid kits | |
| Prescribed over-the-counter medications | |
| COBRA premiums | |
| And much more… |
What's in it for you?
PUMPED UP PARTICIPATION
Deliver a unique HSA experience that supports your employees through all stages of healthcare transactions –spending, saving and investing.
LOWER PREMIUMS
Make high-deductible health plans more attractive to your employees, which helps your company save money.
AUTOMATIC+ SEAMLESS
Add value for your employees without adding an administrative burden for yourself.
HSA Store
We make it easy for Clarity consumers to use their HSA and get the best value from each dollar spent.Items purchased through HSA Store are auto-substantiated, and comply with even the most recent healthcare reform provisions. Our health savings account store makes it fun and easy for consumers to use their HSA and save even more money!
