We have found a way to help you reduce double-digit increases in your healthcare costs and help your employees save money at the same time. That is important to you, isn’t it?
As a bank, we have teamed with ConnectYourCare, an industry leader in Consumer–Directed Healthcare (CDH) solutions, to bring your employees the benefits of choice, convenience, and control over healthcare costs. A CDH plan is a tax-advantaged vehicle that allows employees to put away pre-tax money for healthcare expenses as well as reduce the premium we pay as an employer.
We are pleased to announce that you can now implement our CDH solution, administered by ConnectYourCare, in your organization.
Some of the benefits of a CDH plan from ConnectYourCare and us include:
- Tax savings from employee Health Savings Account (HSA) contributions*
- Lower premiums from required high deductible health plans
- Increased benefit choices for your employees
- Simple online setup and enrollment
- Comprehensive employee communications
- Expert customer service
- Up-to-date online information for ongoing corporate management
- Pre-tax dollars may be saved for qualified expenses or used for retirement.
- Online access to account, investments and health education tools – conveniently designed to help your employees control their health costs and concerns.
- One healthcare payment card for the employee to access all healthcare account funds, simplify their record keeping and improve accuracy.
- Expert CDH customer service reps ready to answer employee questions when they have one.
- Competitive interest rates on HSAs. Additionally, HSA Funds may be invested in seven nationally recognized mutual fund families.
The implementation process is as simple as a few easy steps. ConnectYourCare provides you with all the information and marketing material you need to make this product a success.
- Confer with your Broker or Consultant to finalize your CDH plan design and to obtain the proper CYC plan code. Your Broker or Consultant may contact ConnectYourCare at (877)-891-1776 or firstname.lastname@example.org for more information on CYC CDH products.
- Log on to http://www.connectyourcare.com/application/gsb.html for more information about our CDH products and to initiate set up of your company by submitting a New Client Application. Please Note: Applicable plan code value is “HSA”.
- Approximately 1-2 business days after completing the application, instructions will be emailed to you for:
a. Downloading and distributing employee communications.
b. Accessing the online implementation tool to execute all legal agreements; setting up your CDH plan and bank account info; uploading employee data and finalizing elections.
- Enjoy the benefits of your account! Employees receive healthcare payment card in the mail and can begin enjoying the benefits of the account. You may manage the account online through ConnectYourCare’s Employer Dashboard.
The pricing for CDH administration is as follows:
Account Administration Fees
HSA: $4.95 per enrolled employee per month.
All funds and fees, including account contributions, are drawn from your designated corporate bank account via ACH electronic funds transfer with ConnectYourCare.
We are very excited about this new opportunity and look forward to bringing CDH plans to your company.
*HSAs must be coupled with a qualified High-Deductible Health Plan. An employee must be enrolled in an HDHP to enroll in an HSA.