Provide HSA, HRA, and FSA administration
A better way to manage
The CIP Group establishes a relationship directly with your employees, bridging the gap between outside providers and internal staff. Through easy administration, orientation, and communications services, we oversee all aspects of managing employee benefits—reducing costs and adding value.
HRA’s, FSA’s, and HSA’s are all accounts used to save on taxes and pay for qualified medical expenses. Now that you’ve seen the abbreviations, do you know what they mean?
HSA’s can act as personal savings account with the money inside being used for health care expenses. It is important to note the money is owned and controlled by you — not your employer.
HRA’s are an employer-funded health-benefits plan that reimburses employees for out-of-pocket medical expenses.
FSA’s allow you to put money aside for certain out-of-pocket healthcare costs, without having to pay taxes on these funds. Employers can make contributions to FSA accounts but are not required to.
For easy access to your HSA, HRA, and FSA accounts, you can now download our app!
There is no task that they won’t help with and are always there to help if an employee has any questions or issues that need to be resolved. I have worked with The CIP Group for years and will continue to work with them for many years to come.
Ready to get started?
Schedule a consultation to learn how we can make a difference for your company.