Spending Accounts
Blue Water Benefits Administrators can administer your spending accounts by using our partners or by working with your chosen vendor. We know that spending accounts are a great value-add for your employees and help control their healthcare costs.
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Spending Accounts
Medical
Administrative
Risk Management
Flexible Spending Accounts (FSA)
We are able to administer healthcare and dependent care FSAs. Both options allow your employees to pay for qualified expenses on a pre-tax basis. Employees with an FSA will have a debit card that gives them a quick and easy way to access their funds and the ability to digitally submit claims.
Health Spending Accounts (HSA)
Blue Water Benefit Administrators can work with employers to manage HRA accounts that are fully owned and funded by the employer. HRAs can be paired with a HDHP and are used to pay for eligible out-of-pocket medical expenses. With an HRA employees are able to receive tax-free reimbursements of medical expenses such as premiums, deductibles, copays, and prescription costs. HRAs may help to limit an employer’s financial exposure while offering employees a way to reduce their healthcare costs.
Health Reimbursement Arrangements (HRA)
Blue Water Benefits Administrators can work with employers to manage HRA accounts that are fully owned and funded by the employer. HRAs can be paired with a HDHP and are used to pay for eligible out-of-pocket medical expenses. With an HRA employees are able to receive tax-free reimbursements of medical expenses such as premiums, deductibles, copays, and prescription costs. HRAs limit an employer’s financial exposure while offering employees a way to reduce their healthcare costs.
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