Health Savings Account (HSA)

Health Savings Accounts are governed by Internal Revenue Code (IRC) 223. Health Savings Accounts (HSAs) allow individuals who are covered by an HSA-compatible health plan, also referred to as a qualified high deductible health plan, to save money to pay for eligible medical expenses on a tax-free basis. HSAs are individually-owned by employees, automatically carry over for future use and have tax-free earning potential through interest or investments.

Beniversal HSA Features:

  • Convenient access to account funds with the Beniversal Card, online bill payment and online transfers.
  • Flexible funding alternatives with file upload and direct deposit options.
  • Secure financial account management, statements, and tax reporting through our partnership with UMB Bank; Member FDIC.
  • Opportunities for participants to invest in a best in class mutual fund portfolio offered by UMB Investment Management. The fund is comprised of 33 mutual funds.*
  • Comprehensive employer support for enrollments, education and program design.
  • Aggregate account and deposit reporting for employers.
  • 24/7 account access for participants through our dedicated HSA login.
  • Participant Support by phone and live chat (available in English and Spanish).

* Non-deposit products, such as mutual funds, that may be held in the HSA are not FDIC insured, are not guaranteed, and may lose value.

Need Help Educating Your Employees?

Click here to download our HSA Education Guide

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