Comparing Consumer Directed Options

Health Savings Account Plans

Health Savings Accounts (HSAs) are employee-owned accounts that can be funded by both the employee and employer. The employee can put funds in an HSA pretax or on a tax-deductible basis. Once an employer contributes funds to an HSA, those dollars belong to the employee and follow the employee upon termination of employment. Individuals who set up HSAs must be enrolled only in a qualified high-deductible health plan.

Health Reimbursement Arrangement Plans

Health Reimbursement Arrangements (HRAs) can be funded only by an employer – employees cannot contribute to an HRA. The employer simply funds HRA-eligible expenses as they are submitted to and approved by ACS. While HRAs are usually set up with health plans that have high deductibles and out-of-pocket limits, the rigid requirements that govern the companion health plan for HSAs do not apply to HRAs.

Flexible Spending Account Plans

Flexible Spending Accounts (FSAs) have been around much longer than HSAs or HRAs and are still a very viable part of a consumer directed plan design. FSAs are easy for employees to understand, and funding is flexible since both employees and the employer can contribute. FSAs can be used with any traditional health plan.

Debit Cards?

ACS debit cards make accessing HSA, HRA, or FSA funds as easy for employees as using their checking accounts. A single ACS debit card can provide access to one or more of these accounts.

Consumer Directed Tools?

We have designed our website in a way that makes all the information needed to manage HSA, HRA, or FSA accounts easily accessible. Members stay informed and in control of their health care dollars.

For more information, or to request a quote, click to contact the ACS Sales Team.