Introducing HealthEquity Provided by Physicians Plus
Physicians Plus partnered with industry-leader HealthEquity to deliver a fully integrated approach to health insurance and health care. Physicians Plus provides access to the same great provider network, the same excellent group and customer service and the same wellness and other plan features you expect; HealthEquity offers simplified account management, online tools, resources and education. Login to your HealthEquity account today.
Why a Health Savings Account (HSA) can Help Your Business
- HSA’s empower employees to make savvy financial decisions and save for future health care expenses.
- Maximize your employee benefit package while maintaining cost control.
- Ensure PPACA compliance and avoid “Cadillac-tax” penalties. A Cadillac tax is an excise tax imposed on employers who provide high dollar value benefits starting in 2018. Consult your tax advisor about its applications.
- Unlike flexible spending accounts (FSAs), unused HSA funds roll over each year and are available even if an employee changes health plans, retires or leaves the company.
- Employer tax savings Contributions made to employees’ HSAs qualify as a tax deduction for employers. Please note, HSA contributions are also exempted from FICA and FUTA.
How does an HSA work?
A health savings account, paired with an HSA-qualified high-deductible health plan, allows employers and employees to make pre-tax3 contributions to an FDIC-insured account that can be used to pay for qualified medical expenses. Contributions made by you or your employees through payroll deductions result in FICA and income tax savings. HSA balances earn tax-free interest and roll over from year to year.
HSA Benefits for Your Employees
- Employee HSA deposits are not taxed and can reduce the taxable income of users’*
- HSA withdrawals used for qualified health care expenses are not taxed*
- HSA deposits earn tax-free interest*
- HSA funds are FDIC-insured
- HSA funds can be used post-retirement (after age 65) for medical and non-medical expenses without penalty, much like an IRA
How does WellPlus Rewards Tie In?
With WellPlus Rewards, our activity- and outcome-based wellness incentive program, members earn points for completing health and wellness activities. Additional points are available to those who hit outcome targets for negative nicotine results, body mass index, blood pressure, blood glucose and cholesterol. Points translate to dollars which are deposited directly into the member’s companion HealthEquity HSA account, reducing health care out-of-pocket costs.
HealthEquity is a Difference-Maker
- Data integration between HealthEquity and Physicians Plus enables easy execution before, during and after enrollment
- Online administration tools designed specifically for consumer-driven health care
- Dedicated support and educational resources
- Online payments and integrated claims data
- A knowledgeable team that offers members’ education and insight to maximize savings
- Industry insight and clear communications
*HSAs are never taxed at federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state's specific rules.*