Any unplanned medical event can leave your employees struggling to cover expenses. The pandemic is a glaring example since it brought with it substantial financial ramifications to many people all over the world. As a result, benefits have become more essential over the last two years as employees are more concerned with their health and financial well-being. There’s more of an emphasis on the importance of emergency savings, planning for gaps in employment and unexpected leaves due to illness. These concerns can negatively affect employee productivity and overall workplace satisfaction. Fortunately, you can help your employees prepare for the unexpected with a Health Savings Account (HSA) payroll advance. Continue reading to discover Health Savings Account (HSA) benefits.
Saving for tomorrow with an HSA advance
HSA advance provides on-demand support when employees don’t quite have enough money saved to cover unexpected medical expenses. For example, let’s say your employee has a medical emergency but not enough money in their HSA to cover it. In this scenario, an HSA advance offers the employee an advance based on expected HSA payroll contributions, which can be used immediately and paid back later through payroll deduction. This lets your employee breathe a sigh of relief because the expense is covered without wiping out their bank account or using credit cards.
A simply smarter HSA
Life wouldn’t be life without unexpected moments - the Clarity HSA is made for the unpredictable. Our HSA solution includes a built-in payroll advance designed to cover surprise healthcare costs. A Clarity HSA Advance offers employees an advance on expected HSA payroll contributions, which can be used immediately and paid back later through payroll deduction.
Additionally, our HSA takes savings a step further with a new approach to HSA investing personalized to fit your employee’s needs and experience level. With our investment and benefits solutions, 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 Benefit Solutions HSA solution which means employees can manage everything from a single portal. Contact us today to start discovering the secrets to saving with a Clarity HSA.