WageWorks Rolls Out HSA Product Enhancements

WageWorks, Inc., an administrator of health savings accounts (HSAs) and other consumer-directed benefits, has made HSA product enhancements designed to offer a streamlined participant experience and resources to support smarter spending and saving decisions.

The new HSA capabilities enable employers to drive education, adoption and usage by their employees, and include the following key enhancements:

• HSA Hub enables employees to view their election amounts, total account balances, investment balances, cash balances, and earnings history in a comprehensive dashboard;
• Maximize Your HSA provides comparison tools and multimedia educational resources to help employees get the most out of their HSAs;
• Hold My HSA Receipts is a way for employees to electronically store and access HSA receipts for future claims, taxes and audits; and
• HSA OnCall will allow employers a simple way to offer employees access to future HSA contributions for eligible expenses before their own tax-free contributions have accumulated in their account.

“Our affordable, easy-to-administer and use HSA program addresses the growing market demand for a comprehensive solution from an industry leader,” says WageWorks President and CEO Edgar Montes. “We take great pride in offering our clients and partners a full suite of products and turnkey benefit solutions for their employees.”