Employer Administration
HSA Resources strives to make the administration of HSAs as easy and convenient as possible for employers. Below is an outline of administrative services:
- Add/Remove Employees. To add a new employee, simply add the employee’s name to the Employer Contribution Worksheet or to your own spreadsheet. To remove an employee simply strike the employee’s name off your spreadsheet and fax it to us at 320.323.4488 or e-mail us the name.
- New Employees. For new employees, add the employee as described above and have the employee complete and sign the HSA Application. Please include a check or authorize a one-time ACH debit for the set-up fee. We cannot open the account until it’s funded. If you prefer, just send the set-up fee along with your next payroll deferral and we will open and fund the HSA at that time.
- Government Reporting. HSA Resources will do required government reporting for the HSA: Contribution, Distribution and Fair Market Value Reporting – as required on IRS Forms 1099-SA and Form 5498-SA.
- Reporting to Employees. HSA Resources provides a monthly mailed statement to each employee reflecting contribution, distribution and balance information, in any month there is account activity, otherwise employees will receive quarterly statements.
- Online Reporting/Access to Employees. Employees have access to their accounts online at any time.
- Medical Expense Review/Reporting The employer does not have to collect, review, audit or otherwise have any responsibility over the employees medical expenses paid for through the HSA. HSA Resources does not audit or review employee expenses. HSA Resources provides a tool for employees to maintain a record of their medical expenses and the employees should save their receipts. See HSA Resources Medical Expense Tracking Worksheet.
- Contributions. HSA Resources will work with you to find the most convenient method for you to make contributions into your employees HSA. The three most common methods are: (1) through ACH deferrals directly from the employer’s bank account, click here for an Employer Contribution Spreadsheet [Excel] to establish this service, (2) by sending us a periodic check at your discretion along with a Employer Contribution Form, or your own spreadsheet instructing us on how to allocate it among your employees, or (3) we will send you a monthly List Bill that specifies your employees' HSA contribution amounts.
If you have any questions or would like to schedule a meeting with an experienced HSA consultant call 866.757.HSAs (4727) or, send us an email.
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