Consumer-Directed Benefit Plans

With take care®, there's three ways you can choose to help employees save 25% to 40% on expenses your health plan doesn't cover.

Flexible Spending Accounts allow employees to set aside a portion of their paychecks (before taxes) into an account to budget for expenses not covered by another health plan. The participant can use the account to pay for over-the-counter medicines, copays at the doctor or pharmacy, chiropractic, eyeglasses, contacts, Lasik, orthodontics and more.

Health Savings Accounts allow employees to set aside a portion of their paychecks (before taxes) into an "IRA-like" custodial account to pay expenses not covered by another health plan. To contribute to an HSA, the employee must also be covered by an IRS-Qualified High Deductible Health Plan (HDHP). Employers may contribute to employees' HSAs. Unused funds can be carried forward to the future. HSAs are also portable and can be taken to a new employer or used at retirement. *Individual HSA accountholders are required into a separate agreement directly with the third party custodian bank, and such services may be subject to additional fees and other charges pursuant to the terms and conditions of any such agreement(s). HSA custodian banks are not subcontractors of WageWorks.

Health Reimbursement Arrangements are funded with employer dollars to pay expenses not covered by another health plan. An employer can opt for its HRA to pay some or all of the health expenses allowed by the IRS. For example, an HRA could pay all eligible medical expenses, including premiums for health and long-term care insurance; or the HRA could be limited to cover only dental or vision expenses. Although an HRA can have an option to carry forward unused funds to the future or for retirement, an employee cannot take their HRA funds to a new employer.

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