Cloud-Based HSA Administration Software with Summit HSA
HSA Administration, HSA Debit Card, HSA Eligible Expenses
Summit HSA is the nation’s most comprehensive Health Savings Account (HSA) solution. As a full-service, cloud-based platform for HSA management, our revolutionary solution handles HSA administration, investing and deposits in-house, alongside FSAs, HRAs, and COBRA billing in a seamless environment. There’s no need to partner with banks or other institutions, giving you and your clients more convenience and greater satisfaction.
- Simplified HSA administration for account setup and processing contributions
- Self-certification for expenses for account holders, which means less HSA management work for you
- Integrated investments with educational tools that include investment prospectus, RIA-developed lifestyle models, and detailed investor statements
- HSA debit card with the option to enable MCC and IIAS restrictions
- Electronic receipt storage with DataPath’s patented ClaimsVault® for account owners
With Summit HSA, you can offer full-fledged HSA management services – and increase your revenue – without boundaries.
HSA Debit Card
Offer HSA owners quick, convenient, secure access to their benefit dollars with an HSA debit card. The Summit debit card, powered by Mastercard®, can be used at most locations where major credit cards are accepted (i.e., pharmacy, grocery store, doctor’s offices, etc).
With an HSA debit card, you can increase auto-substantiation rates and reduce the amount of time spent entering claims and processing reimbursements; an HSA debit card also helps boost participation rates for employer groups. Upon request, the Summit debit card can be customized with your logo.
DataPath is the industry’s only solutions provider that is also an end-to-end card processor. We keep every card related process in-house, including industry-leading customer service and technical support.
CDH Account and COBRA Billing Administration
Summit is the industry’s only all-in-one solution for CDH account and COBRA billing administration. With Summit, you can offer FSAs, DCAPs, LPFSAs, HRAs (including QSEHRAs), HSAs and COBRA administration in a single platform. Summit’s seamless environment allows global record keeping and management across all lines of service.
HSA Administration Resources
- HSA Eligible Expenses – Learn more about HSA eligible expenses.
- HSA Limits – View the 2018 HSA contribution limits, minimum deductibles and maximum out-of-pocket expenses.
- What’s the difference between HSA vs FSA?
Read our White Papers on HSA Administration
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
White Paper: Assessing the Benefits of an End-to-End Card Processor in the Consumer Directed Healthcare Market - When considering an account-linked payment card for employer benefits, TPAs must find a solution that provides improved security, accountability, and flexibility for all parties involved in the transaction. Introduction The rise of consumer directed healthcare (CDH) during the past decade has led many employers to seek new methods to incent ... Read more
Additional Information about HSA Administration
Medicare and HSAs – A Few Important Things to Know - President Trump’s 2019 budget proposal is creating some buzz around Medicare and HSAs. If you’re eligible for Medicare and have an HSA, here are some things you need to know. What is Medicare? Medicare is a federal ... Read more
Enrollment Season Tips for Benefits Administrators - Here are some enrollment season tips for TPAs during the hectic open enrollment season. It’s open enrollment time. That means third party administrators are making their rounds, visiting their clients and setting up their plans before ... Read more
Guide to Investing Your HSA Account for Growth - The following infographic, “A Guide to Investing Your HSA Account for Growth”, provides an overview on Health Savings Account (HSA) basics, why you should use your HSA for retirement, investment strategies, and more: Guide To Investing ... Read more
Why Health Savings Accounts are Booming in 2017 - Data from recent years shows that Health Savings Accounts are booming and factors indicate continued growth in years to come. Since 2013, employee participation in Health Savings Accounts (HSAs), which enable individuals and families to use ... Read more
How a Mid-Year Change of Status Affects HSA Contributions - When a person has a change of status during the plan year, it affects his or her annual Health Savings Account (HSA) contribution limit. The following provides a regulatory overview (with some examples) of how ... Read more
IRS Announces 2018 HSA Contribution Limits - The IRS has released updated figures for Health Savings Accounts, raising 2018 HSA contribution limits, minimum deductibles, and maximum out-of-pocket ... Read more
Did You Know about these HSA Benefits? Six Things to Keep in Mind - If you have a Health Savings Account (HSA), there may be some benefits to this consumer directed healthcare account that ... Read more
HSA and Retirement – How Your HSA Can Boost Your Retirement Fund - HSAs were designed to help make healthcare more affordable and give people more freedom in their personal healthcare decisions. However, ... Read more
Investing HSA Funds – The Key to Substantial Growth - HSA owners benefit from tax-free growth on their account through interest earned and investment income. However, with interest rates at ... Read more
ACA and Health Savings Accounts – What Could Be the Future of HSAs - In 2017, with the inauguration of a new president and with Congress openly discussing healthcare reform, Health Savings Accounts (HSAs) ... Read more
HSA Enrollment May Surge During Trump Administration - Already a popular consumer driven health account, HSA enrollment could see a significant boost during the Trump Administration. Now that the ... Read more
Department of Labor Rule Change Could Impact HSA Account Holders - The United States Department of Labor (DOL) finalized a conflict of interest rule designed to ensure that investment advisors deliver ... Read more
HSA Investing – Many Account Holders are Missing Out - Health Savings Accounts (HSA), a popular component of employee benefit packages with high deductible health plans, offer an abundance of ... Read more