Alight Smart-Choice Accounts®

Health Savings Accounts

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Alight’s Health Savings Account (HSA) solution allows your employees to set aside money for their current and future healthcare needs. Combined with a high-deductible health plan strategy, our HSA provides your people with the savings tools they need while helping your organization control rising healthcare costs.

Easy access to HSA funds for spenders

Our Alight Smart-Choice Card® gives your people quick access to all their HSA funds, and automatically pays for eligible services from the right account based on your plan rules.

Robust HSA investment options for savers

A diversified mix of investment funds allows your people to decide how they invest their HSA funds. We provide a variety of tools and resources to help them make personal decisions based on their risk tolerance and retirement plans.

Solid partnership and HSA account integration

We partner with your benefits administration team to ensure your Smart-Choice Accounts are fully integrated into your existing platform, creating the best user experience for you and your people.

Convenient access anywhere to HSA features

With touch ID and facial recognition features, our mobile app offers full HSA account access at your fingertips to ensure your account stays secure. Submit claims, view real-time balances and transactions, or ask Emma, our voice-activated virtual assistant, inquiries regarding your benefit accounts in an instant.

Comprehensive education

Our detailed, ongoing communications—including online resources, videos and calculators—help your people manage and understand their HSA accounts.

Pay HSA your way

Our card processing, claims and banking are done in one platform to enable real-time transaction settlements, automatic claim payments, and participant reimbursements.

An HSA that is health plan neutral

We work with all major carriers, giving your organization the flexibility to change health plans without moving HSA reimbursement accounts and preventing disruption and unnecessary transfer fees for your people.

Sophisticated HSA and reimbursement account reporting and analytics

Our extensive dashboards and analytics provide insight on where your employees spend and save the most, allowing you to optimize your approach on marketing tactics.

Frequently asked questions – Health Savings Accounts

Alight Smart-Choice Accounts include a variety of product offerings, but we receive frequent questions about HSAs. Learn more and better understand the right solutions for your employees.

A health savings account (HSA) allows you to set aside pre-tax funds to cover current and future qualified healthcare expenses. HSA funds roll over from year to year, earn interest and can be invested, making them a good long-term savings strategy to cover future healthcare costs. Your employees must be enrolled in a qualified high-deductible health plan to be eligible for an HSA.

To be eligible for a health savings account (HSA), your employees must be enrolled in a high-deductible health insurance plan.

There are many benefits to having a health savings account (HSA):

  • An HSA provides triple tax savings:
    • Tax deductions and/or tax-free income when contributions are made to the account
    • Tax-free earnings through investments
    • Tax-free withdrawals for qualified medical expenses
  • HSA funds are flexible. Funds can be used to pay for current qualified healthcare expenses or saved and invested to cover future healthcare needs.
  • HSA funds are owned by the employee. The funds are portable so they keep their HSA even if they change health insurance coverage or leave your organization.

Both the employee and the employer can make contributions to a health savings account (HSA).

The IRS determines how much an employee can contribute to their HSA.

The maximum amount for 2019 is:

$3,500 for an individual
$7,000 for a family

People who are age 55 or older as of 12/31/2019, may also contribute an extra $1,000 as a catch-up contribution.

As one of the world’s leading HR and health administration providers, Alight understands reimbursement accounts better than anyone else.

$600 million

in HSA assets managed

370k

Health savings accounts serviced

2 million

Smart-Choice Accounts administered today

98%

of organizations choose to stay with us every year

Ready to help your employees set aside money for the future?

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