HSA Management Software for TPAs, Easy HSA Administration!

HSA management (including investments) is made easy with Summit HSA

 

When you’re ready to compete in the lucrative HSA market, Summit HSA is ready. Summit is a cloud-based, all-in-one HSA management solution that offers TPAs the ability to increase revenue without taking on a lot of work. In addition, with Summit’s seamless functionality, you can administer FSAs, HRAs, COBRA and other employer-sponsored benefits within a single solution. These features can help you boost your bottom line and deliver greater client satisfaction. Blaze a path to better HSA administration, more revenue, and stronger client relationships with Summit HSA!

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Why Choose Summit HSA?

Summit enables you to offer clients and account holders a convenient and robust ‘one-stop shop’ for every HSA-related need with centralized HSA management, banking and investments in a secure, web-based environment.

  • Custodial Platform – With Summit HSA there is no need for separate partnerships with banks or other entities. DataPath offers centralized custodial banking services in addition to a robust HSA administration platform.
  • Expense Self-certification – Summit’s settings enable your participants to self-certify their HSA expenses, decreasing the amount of time you spend managing accounts.
  • Patented ClaimsVault® – Account holders can easily store and access their receipts and other documentation in our patented ‘electronic shoebox.’
  • Convenient HSA debit card– With the Summit HSA debit card, participants can receive quick, secure access to their tax exempt funds. MCC or IIAS restrictions can also be enabled.
  • Industry-Leading Customer Support – DataPath’s commitment to customer support is unparalleled in the industry. Our professional, courteous support team is knowledgeable and responsive to your needs and concerns.
  • Easy Participant Portal and Mobile App – With an internet connection, participants can enroll online, view account activity, pay providers, manage investments, access tax information and submit and store receipts. Many features are also available to participants through the mobile app.
  • Low Investment Threshold – Account holders can start investing their funds when their balance reaches $1,000. This allows them to grow their accounts quickly and easily without gimmicks.

All these features and more make Summit HSA the most convenient, easy to use HSA management system on the market. Unlike banks and other HSA platform providers, DataPath services the accounts by reconciling payments, contributions, distributions and interest payments. Plus, TPAs don’t have to worry about reviewing expenses, leaving administrators with more time to build stronger client relationships. HSA administration has never been easier!

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McGregor & Associates, Inc.

We have shopped around, and we cannot find another HSA platform that offers what DataPath offers. The reporting, customer service, ease of ability to use the system – you won’t find that anywhere else.

Raquita Rowland HSA Division Manager

HSA Management Challenges Solved by Summit HSA

Summit allows administrators to cash in on the booming HSA market by giving them the ability to charge for the service. Summit adds value to both the employer and account holder experience with services and resources not usually offered by bank-hosted health savings accounts. Referring clients to a bank results in missed revenue for you and opens the door to frustration for your clients from the inconvenience of having multiple administrative providers.

Summit’s minimum for investing is $1,000, which means that account holders can start investing earlier and their dollars can grow quicker. Plus, employees can choose from a wide range of investment options tailored to their savings strategy. Investments are also customizable based on the account holder’s risk tolerance.

Summit provides a secure online portal that allows account holders and employers to manage their accounts. Employers may also use the portal to add company dollars to employees’ accounts.


Read our White Papers on HSA Management and HSA Management Services

White Paper: How TPAs Can Boost Profits and Balance Their Workload Through Platform Efficiency - As new technologies emerge, TPAs who offer both CDH account and COBRA administration should continually evaluate their day-to-day business operations to reduce costs through greater efficiency. Improvements in technology give rise to numerous opportunities for cost reduction, but they also introduce important questions that must be addressed. For example, is relying ... Read more

White Paper: How TPAs Can Deliver a Unified HSA Experience and Maximize Earnings - Since 2005, the market for Health Savings Accounts (HSAs) and qualified high deductible health plans has been continuously growing, and so has the market for HSA management services. However, TPAs who want to compete and make money by adding HSAs to their portfolio see significant barriers to market entry — finding ... Read more

White Paper: How To Revolutionize CDH Account and COBRA Administration with New, Seamless Technology for TPAs - Computer technology is continually evolving. The benefits administration platforms of years past are ill-equipped to meet the demands of 21st century users, and benefits administrators are looking for increased efficiency, better data integrity, and greater value from software vendors. As vendors merge and go through multiple acquisitions, they try to meet ... Read more

White Paper: Positioning for Growth – Why TPAs Should Embrace a Thriving HSA Market - Health Savings Accounts (HSAs) have been growing in popularity over the past decade. Due to healthcare reform in Washington, D.C., and market demands, TPAs can benefit from a thriving HSA market. With multiple entities placing an increased focus on HSAs, TPAs need to know how to position ... Read more

White Paper: Evaluating Solutions to Leverage a Booming HSA Market - As the Health Savings Account (HSA) market continues to surge, the time is right for TPAs and other companies to jump in and build additional revenue.  However, one significant area of concern for TPAs is competing with banks. In order to become a formidable alternative to traditional ... Read more


More Information about HSA Management and HSA Management Services

Press Release: DataPath White Paper Analyzes Ways a Partner Marketing Program Can Affect a TPA’s Success - DataPath White Paper Analyzes Ways Partner Marketing Programs Can Affect a TPA’s Ability to Control Costs and Successfully Grow Business LITTLE ROCK, Ark. (October 17, 2018) — When third-party administrators (TPAs) evaluate potential benefits administration platforms, ... Read more

Updating Your Employee Benefits Strategies for the Modern Workforce - Employee benefits strategies are rapidly changing in response to the constantly evolving work environment. Increasingly, employers are taking a closer look at their benefit plans to see if they still align with the demands of ... Read more

DataPath Publishes New FSA and HSA Materials for Captain Contributor - DataPath, Inc. Publishes New Materials for Award-Winning Benefits Education and Engagement Program Little Rock, Ark. (September 25, 2018) – DataPath, Inc., a leading provider of cloud-based benefits administration solutions, recently released new materials for its award-winning ... Read more

How H.R. 6199 and H.R. 6311 Could Affect Your HSA - Recently, the U.S. House of Representatives passed two new bills that could have a significant impact on who qualifies for HSAs and how they are used. Both bills – H.R. 6199 and H.R. 6311 – ... Read more

DataPath Wins Second NHIA Award for Captain Contributor - DataPath Wins Second NHIA Award for Captain Contributor Employee Education, Engagement Program Little Rock, Ark. (September 11, 2018) – DataPath, Inc., a leading national provider of technology solutions for benefits administration, is the recipient of the ... Read more

What is a Section 125 Cafeteria Plan? - A Section 125 Cafeteria Plan is an employer-sponsored benefits plan that lets employees pay for certain qualified medical expenses – such as health insurance premiums – on a pre-tax basis. It’s called a “cafeteria plan” ... Read more

Treating Mental Health with a CDH Account - Mental health currently represents one of the biggest healthcare challenges in the United States. It is estimated that: One out of every five adults in the U.S. experiences a mental illness at some point in their ... Read more

Presenteeism in the Workplace – What is it and How to Address it - American businesses lose billions of dollars every year due to employees missing work due to physical sickness and mental health issues. Many businesses also deal with the practice of absenteeism – employees missing work on ... Read more

8 Ways to Engage Your Millennial Employees in Health Benefits - Are you an employer or HR? Chances are you have Millennial employees on your staff. The following infographic provides you with valuable information about this demographic, and how you can engage your Millennial employees in ... Read more

Health Savings Account FAQs - Health Savings Accounts are increasing in popularity due to participants’ ability to reduce healthcare expenses, save on taxes, and put additional money aside for retirement. HSAs have been available since 2005, and people have many ... Read more


hsa management

Confident Investing

Help account holders invest their HSA dollars with confidence so they can grow their account balances quickly. Multiple bins are available, and users may access educational tools such as investment prospectus, RIA-developed lifestyle models, and detailed investor statements. DataPath has a licensed, in-house advisor who provides thoughtful, experienced guidance on investments.

hsa management

Convenient HSA Debit Card

HSA owners need an account-linked debit card so they can use their money easily and avoid the hassle of claims submission. Provide account owners quick, single-source access to their pre-tax dollars with the Summit debit card. Plus, claims paid using the Summit debit card are auto-substantiated at the point of purchase, greatly reducing your claim processing workload and the incidence of “pay and chase.”

hsa management

Accessible Claims and Receipts

Provide convenient, any-time access to claims and receipts for account holders. DataPath’s patented electronic ClaimsVault® allows access to stored documents as long as the account holder maintains an active Summit HSA account.

hsa management

State-of-Art Mobile App

Mobile apps are essential in today’s high tech world. Enable account holders to view their accounts, monitor card activity, and manage personal information using DataPath’s handy Summit mobile app, available for both Android and iPhone.

hsa management

Industry-Leading Customer Support

Give your clients the best in customer support. DataPath’s commitment to customer support is unparalleled, and we work directly with clients to address their concerns and exceed their expectations.

Other Benefits Include:

  • Available account information and support, 24/7, for administrators, employers, and account holders
  • Simplified HSA administration processes for account setup, contribution processing, expense certification, tax document preparation and notifications to account holders
  • MCC-restricted and IIAS-integrated debit card prevents tax penalties resulting from ineligible use
  • Accessible tax forms that may be viewed, printed, and filled out online. Receive assistance with forms 1099, 8889, and 5438
  • Secure Office of Foreign Assets Control identity verification with results management

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CDH White Papers

Evaluating Partner Marketing Services: How TPAs Can Grow Revenue and Cut Costs by Partnering with a Benefits Platform Solutions Provider [web]
How TPAs Can Balance Their Workload, Ensure Compliance, and Generate More Revenue Through Platform Efficiency [web|pdf]
How TPAs Can Overcome Potential Pitfalls to Deliver a Unified HSA Experience and Maximize Earnings [web|pdf]
How to Revolutionize CDH Account and COBRA Administration with New, Seamless Technology for TPAs [web|pdf]
Positioning for Growth: Why TPAs Should Embrace a Thriving HSA Market [web|pdf]
Evaluating Solutions to Leverage a Booming HSA Market [web|pdf]
CDH White Papers Assessing the Benefits of an End-to-End Card Processor in the Consumer Directed Healthcare Market [web|pdf]

Easily administer FSAs, HRAs, HSAs, COBRA and more!

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