Oh, hey!
Excited to see you here.
Most people listen to videos like these on mute, so I wasn’t expecting you.
But, thanks for turning that volume up.
Where do I even start?
There’s just so much I want to chat with you about on how you can plan, save, and spend smarter.
Welcome to PayFlex, an Aetna company. So, to break it down for you PayFlex includes health savings plans and flexible spending plans. And with PayFlex you’ll have the tools, services and support to make the right decisions for your health and financial well-being.
Your health savings account, or HSA is a smart money management tool, that lets you set aside money, tax-free to pay for eligible expenses. Such as your medical plan deductibles, and co-insurance, prescriptions, even some over the counter stuff like first-aid and pain-relievers, vision and dental care and so on.
The money that goes into your account, which is how you save for current and future expenses is based on how much you contribute. The 2020 contribution limits is thirty six hundred dollars for individuals, seventy two hundred dollars for families. And if you’re over the age of fifty-five, you can make a catch-up contribution of one thousand dollars.
Plus, an HSA is a triple tax advantage account, which means that contributions, earnings and withdrawals are tax-free. That’s a win, win, win.
By the way, that HSA of yours will grow over time. The funds roll over year to year and the account earns interest too.
Once your account hits the minimum required balance for investments you can start investing your money. And PayFlex makes investing easy with a choice of funds and facts you need right on the website.
Plus, you can take your HSA with you whether you change plans, jobs or decide to retire.
Now let’s get you up to speed on flexible spending accounts. There are three types, a health care FSA lets you use pre-tax dollars to pay for eligible healthcare expenses that aren’t covered by your medical plan.
A limited purpose FSA can help you pay dental and vision expenses before you meet your deductible. After that you may be able to use your account for any eligible health care expenses.
A dependent care FSA can help pay for services like day care, preschool and eldercare.
You can register easily with the PayFlex member website, where you can learn about your account, calculate eligible expenses and more.
And make sure you download the PayFlex Mobile App to manage your account wherever, whenever.
Here are all the ways you can get in touch with us.
We know that enrolling in health insurance can be challenging.
And you may not know where to start.
At PayFlex, we’re here to help you make a smart choice for your overall well-being.
Choosing the right health plan can be easier than you might think.
Let’s begin with a high-deductible health plan – HDHP for short.
A high-deductible health plan comes with a lower premium, meaning less money will come out of your paycheck for coverage.
So when you select an HDHP, you’re already saving.
A high-deductible health plan can be combined with a Health Savings Account (HSA).
And when they are paired together, you can save even more.
You can contribute money from each paycheck into your HSA.
When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars.
That’s right - this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses.
Funds in your account roll over from year to year.
And that’s how an HSA can help you build a better financial future.
As you watch your savings grow, you’ll worry less about paying for your health in the future something your 401(k) will thank you for.
And as your balance grows, you’ll be able to invest your extra HSA dollars into mutual funds for those future health care expenses.
So if life throws you a curveball, your HDHP and HSA will help keep you covered.
Your health plan should take care of the whole you — both physically and financially.
By choosing an HDHP and a PayFlex HSA, you’re making the right choice for your personal well-being.
Oh, hey!
Excited to see you here.
Most people listen to videos like these on mute, so I wasn’t expecting you.
But, thanks for turning that volume up.
Where do I even start?
There’s just so much I want to chat with you about on how you can plan, save, and spend smarter.
Welcome to PayFlex, an Aetna company. So, to break it down for you PayFlex includes health savings plans and flexible spending plans. And with PayFlex you’ll have the tools, services and support to make the right decisions for your health and financial well-being.
Your health savings account, or HSA is a smart money management tool, that lets you set aside money, tax-free to pay for eligible expenses. Such as your medical plan deductibles, and co-insurance, prescriptions, even some over the counter stuff like first-aid and pain-relievers, vision and dental care and so on.
The money that goes into your account, which is how you save for current and future expenses is based on how much you contribute. The 2020 contribution limits is thirty six hundred dollars for individuals, seventy two hundred dollars for families. And if you’re over the age of fifty-five, you can make a catch-up contribution of one thousand dollars.
Plus, an HSA is a triple tax advantage account, which means that contributions, earnings and withdrawals are tax-free. That’s a win, win, win.
By the way, that HSA of yours will grow over time. The funds roll over year to year and the account earns interest too.
Once your account hits the minimum required balance for investments you can start investing your money. And PayFlex makes investing easy with a choice of funds and facts you need right on the website.
Plus, you can take your HSA with you whether you change plans, jobs or decide to retire.
Now let’s get you up to speed on flexible spending accounts. There are three types, a health care FSA lets you use pre-tax dollars to pay for eligible healthcare expenses that aren’t covered by your medical plan.
A limited purpose FSA can help you pay dental and vision expenses before you meet your deductible. After that you may be able to use your account for any eligible health care expenses.
A dependent care FSA can help pay for services like day care, preschool and eldercare.
You can register easily with the PayFlex member website, where you can learn about your account, calculate eligible expenses and more.
And make sure you download the PayFlex Mobile App to manage your account wherever, whenever.
Here are all the ways you can get in touch with us.