Alerus Retirement and Benefits has designed a Health Savings Account (HSA) product that is independent of insurance companies, has simple plan designs without minimums, and maximizes investment choices for those interested in investing their HSA contributions. Our HSA can be partnered with any qualifying High Deductible Health Plan from any insurance provider, making it completely portable when health insurance coverage changes. Alerus HSA administration advantages include:
- No minimum balance requirements.
- Competitive interest rate credit.
- No load, no transaction cost investment options available from dollar-one.
- Integration with our FSA/HRA services.
- One website for all your employees’ benefits needs – HSA, FSA, HRA, 401(k), 403(b).
The Alerus HSA administration is carried out by our own trained professionals who understand employee benefits from both the employer’s and participant’s perspective. We offer a complete range of HSA administration services, including:
*Investment products 1)Not FDIC Insured 2)Not Guaranteed by Bank 3) May Lose Value
- Plan Design
- Participant Debit Cards
- Investment Options from Well-known Mutual Fund Families*
- Participant Education Material
- Enrollment Services
- Claims Processing
- Quarterly Participant Statements
- Payroll Integration
- Capability for FSA/HRA Integration
- Participant Website | including claim submission option
- Employer Website
- Toll Free Fax
- Year-end Tax Reporting
Key Factors in HSA Administration
Establishing a successful acceptance of the HSA by your employees requires an easily understood communications package. Alerus will provide a custom designed package to meet the specific needs of your employees, including:
- Informational Brochure and Communication Materials
- Enrollment Forms
- Detailed Claim Submission Instructions
- Welcome Letter
Whether it is in print, audio visual, or internet based, the application process is an integral part of an effective plan implementation.