Cloud-based HSA Software

Versatile HSA administration solution with banking and investments

Summit equips TPAs to be part of the growing Health Savings Account market. By the end of 2022, HSA accounts are expected to exceed 35 million, up from 28.5 million in 2019. Take advantage of this thriving market with Summit, our comprehensive, cloud-based HSA software solution.

Summit enables you to be as hands-on or as hands-off as you choose. Offer employers and account holders a better benefits experience with centralized HSA administration, mobile app, debit cards, flexible banking options, and integrated investments in a secure, web-based environment.

Build stronger client relationships, improve healthcare satisfaction, and level-up your revenue with Summit HSA!

Summit enables you to offer employers and account owners a convenient ‘one-stop shop’ for every HSA-related need. We centralize HSA administration, flexible banking options, and integrated investments in a single, secure, web-based environment.

HSA Administration - One-stop Shop

One-Stop Shop

Summit packages simple HSA administration, centralized banking, and integrated investments together in a single HSA software solution.

HSA Administration - Expense Self-Certification

Expense Self-Certification

If preferred, you can set up Summit to allow participants to self-certify their HSA expenses and decrease the amount of time you spend managing accounts.

HSA Software - Easy Participant Portal

Easy Participant Portal

Participants can use the convenient HSA online portal to enroll in an HSA, make elections, view account activity, pay providers, manage investments, access tax information, and submit and store receipts.

HSA Administration - Higher Level of Service

Higher Level of Service

Summit provides compliant, customizable plan document templates or TPAs can upload their own. You can also perform nondiscrimination testing in the portal.

Confident HSA Investing

Confident HSA Investing

HSA account owners can invest with confidence and grow their balances quickly. Users have access to educational tools such as investment prospectuses, RIA-developed lifestyle models, and detailed investor statements.

Convenient Debit Card

Convenient Debit Card

With the Summit HSA debit card, participants have quick, secure access to their tax-exempt funds. MCC or IIAS restrictions can also be implemented.

Mobile App

Mobile App

HSA account owners can view and edit their profile, check balances and purchases, upload receipts, file claims, and manage investments through the convenient mobile app.

HSA Software

And More!

Accessible tax forms can be viewed, printed, and filled out online. Account owners can receive assistance with forms 1099, 8889, and 5438. Summit HSA also offers secure Office of Foreign Assets Control identity verification with results management.

All these features, and more, make Summit the most convenient, easy-to-use HSA software platform on the market. DataPath also services the accounts by reconciling payments, contributions, distributions and interest payments, and we provide industry-leading customer support. Plus, TPAs can go beyond time-consuming tasks like reviewing expenses, leaving more time to build stronger client relationships. HSA administration has never been easier!

Read Our Whitepapers about HSA Software and Administration

HSA Software
Dick Boever Principal

TaxFree Plans

We found DataPath to be a wonderful partner...look forward to many years in the future.

HSA Software

Always an intense and stressful time for brokers, TPAs, and employers alike, enrollment season for the 2023 plan year promises to be even more so. As COVID-19 gradually transitions from pandemic to endemic, its impact on Americans cannot be denied. By mid-2022, more than 90 million had contracted COVID-19, with over a million confirmed deaths. … More >>

There have been five additional pandemics recorded since the Spanish Flu infected 500 million people worldwide in 1918-1920. Even so, the SARS-CoV-2 coronavirus caught the world’s population off-guard. Americans in particular were unprepared for the immense impact that COVID-19 would have on their lives, their families, and their livelihoods. The pandemic caused dramatic changes to … More >>

The Affordable Care Act (ACA) became law in 2010 and is the most comprehensive reform since the 1960s. Despite many obstacles, the CDH account market has grown significantly as the ACA has evolved. Will such growth continue? And how can employers, brokers and TPAs take advantage of this growth?

HSAs have been around for almost two decades and continue to exhibit long-term adoption growth. However, many TPAs have been cautious about adding this account to their services menu. How can TPAs capitalize on this expanding opportunity and enter this consistently growing market?

Consumers have more choice than ever when it comes to healthcare benefits. However, research suggests they are not using those benefits as effectively as they could due to knowledge gaps. For TPAs, understanding where those gaps exist and providing solutions to address them is key to client satisfaction and business growth.

Read More Information about HSA Administration

Unlike an FSA or an HRA, both of which are owned by the employer, HSAs are owned by the individual. This means that the account owner funds the HSA, spends the money (within IRS regulations), earns interest, and chooses whether or not to invest the money. Most importantly, the individual keeps the account (HSA portability) should their employment status change due to job loss, changing company, or retirement. Employers may also choose to contribute to the HSA, but the account owner keeps the funds.

Since they were enacted in 2003, Health Savings Accounts (HSAs) have become an integral part of the consumer directed healthcare landscape for those with a high deductible health plan. One of the chief benefits of having an HSA is that account holders can use that money to pay for a wide range of eligible medical expenses for themselves, their spouses, and their tax dependents.

For 2023, Health Savings Account (HSA) owners will be able to contribute significantly more to their accounts. For those with self-only coverage, the annual limit will be $3,850, an increase of $200. HSA owners with family coverage will be able to contribute up to $7,750, a $450 increase.

HSAs have been around for almost two decades and continue to exhibit long-term adoption growth. However, many TPAs have been cautious about adding this account to their services menu. How can TPAs capitalize on this expanding opportunity and enter this consistently growing market?

Sicen 2004, HSAs have skyrocketed in popularity. They are now the second most popular tax-advantaged account next to Flexible Spending Accounts (FSAs). As HSA-qualified high deductible health plans continue to grow, third party administrators have plenty of opportunity to jump into the market.

Some TPAs have been hesitant to enter the HSA market because they either do not want to compete with banks or believe that HSAs require a lot of additional work. However, there is still plenty of opportunity ahead. Those who have not yet capitalized on this still growing market can leverage their knowledge, skills, and business acumen to capture new revenue.

Health Savings Accounts (HSAs) can be a great investment in one’s personal healthcare and financial future. Their versatility, and the fact that these accounts can be kept for life, mean that HSA owners need to adopt strategies for building and using the accounts to their full potential.

Do you know the difference between a HRA vs HSA? The key difference between the two is that an HRA is employer-owned whereas an HSA is employee-owned. With an HSA, the employee keeps the account and can transfer it when he or she changes jobs. Account holders may also invest their HSA funds.