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Collaboration is our middle name

We develop relationships with our customers, focused on designing and implementing a strategy that helps meet their needs.

Success Story #1

Success Story #1

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Success Story #1

Success Story #2

Success Story #2

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Success Story #2

Success Story #3

Success Story #3

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Success Story #3

Success Story #4

Success Story #4

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Success Story #4

Full replacement HSA strategy and employee adoption

Customer: One of the largest US-based commercial bank holding companies

Member population: 8,000 HSA members & 3,300 FSA members

Scenario: Offers variety of account-based solutions to meet employees’ needs.

Goal: To encourage employees to become more active consumers of health care and utilize all available resources to make informed decisions.

Challenge: Change employee behavior to drive acceptance of HSAs.

Collaboration Results: Together we built a gold standard for educating employees about the benefits of HSAs and investing in their health care for the future.

Kudos from members:

“Have the mobile app and it’s great”

“I love the card!”

“It’s Easy”

Introduce new account options to complement health plans

Customer: Fortune 50 media and entertainment provider

Member population: 90,000 members

Scenario: Current FSA customer looking to introduce an HSA and HRA to complement its new health plans.

Goal: Make changes to health care benefits to offer competitive, affordable benefit choices.

Challenge: Effectively communicating account options and how they work with new health plans.

Collaboration Results: Together we developed a custom communication plan. We deployed our custom materials along with other benefit materials in three phases (Learn, Experience, and Enroll). Employees were educated, engaged and empowered to make their own health care decisions.

Simplify administration and enhance member experience

Customer: Fortune 50 global aerospace corporation

Member population: 25,000 HSA members

Scenario: Customer looking to offer a single HSA solution that fit with all of its health plan offerings.

Goal: Simplify administration and offer a consistent mutual fund portfolio.

Challenge: Decrease the lag time between payroll deductions and when funds are available in an employee’s HSA.

Collaboration Results: We developed a unique process to consolidate all existing account assets with PayFlex . We consultatively worked together to develop optimal funding for their HSAs. To offer a consistent mutual fund portfolio, we worked collaboratively to introduce a new investment platform. It allowed for instantaneous account opening, automatic sweep to investments and quicker settlement trading.

Our process for transferring funds from the existing administrator exceeded expectations. Members were also pleased with HSA deposits made available on pay day.

Kudos from our customer:

“I’m happy to report that since the 1/1/14 go live date, all instruction, payroll and funding files have been successful in meeting or exceeding the project’s key objective of pay date or pay date +1 day account funding. Today’s semi-monthly HSA deduction for salaried employees showed up in employee’s accounts this afternoon--on pay date.”

Grow membership and offer more payment options

Customer: Fortune 50 multinational conglomerate

Member population: 24,000 members

Scenario: Customer looking for someone that could help grow its HSA membership and offer multiple payments options that fit the needs of its employees.

Goal: Grow HSA membership by 20% and offer members a choice of payment options.

Challenge: Transitioning a large group to a new HSA administrator and educating the employees on new high deductible health plan options with multiple HSA payment options.

Collaboration Results: We conducted an employee survey to gauge the level of knowledge of HSAs. The survey results were used to shape communications so employees could make the best benefit choices. Together we developed custom communications and presentations to clearly explain the options and how each option could benefit them. We have seen yearly increases in HSA participation.

  • 2012 – 2013 – increased participation in HSAs by 25.7%
  • 2013 – 2014 – increased participation in HSAs by 32%

Survey says…

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PayFlex can bring value to your program

Use this tool to help you determine your potential Return on Investment (ROI) simply by offering one or more of our tax-advantaged accounts.

  • First, enter the number of eligible employees.
  • Then enter the projected number of participants for each program.
  • Click View ROI Report to view the projected value of your program.
ROI Table
Please enter the number of eligible employees and the projected number of participants for each program.

Your employer savings is potentially a return on investment!

Your employee population table
Your employee population
Eligible employees
Employees with an HSA
Employees with a health care FSA
Employees with a dependent care FSA
Employees with a health care & dependent care FSA
Employees with commuter/transit account

ROI Summary

ROI Summary table
Estimated Tax Savings table
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Administration Cost

The fees used below are for illustrative purposes only. Pricing for your organization may vary.

Administration Cost table

*Minimum monthly billing fee of $150 will apply.

**Implementation fee includes:

  • Standard enrollment materials, limited to the number of eligible employees

  • Preparation of Plan Documents

Note: Generally, an annual maintenance fee of $750.00 will apply after implementation is completed. HSA administration doesn’t include an annual maintenance fee.

Contact a PayFlex Advocate

1-844-PAYFLEX
(1-844-729-3539)
Monday - Friday, 7:00 am - 7:00 pm (CT)
Saturday, 9:00 am - 2:00 pm (CT)