Q:

What can you do on HealthHub from PayFlex?

A:

Quick Answer

Employers can design benefits plans for their employees at HealthHub, and employees can manage their benefits and control their expenses using online planning and tracking tools to achieve personal health goals, states HealthHub. Benefit consultants and human resources professionals can offer HealthHub resources to their clients.

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Full Answer

Employees can make use of HealthHub's flexible spending accounts to reduce their taxes and increase their net pay, notes HealthHub. Employees save 23 percent on average in federal, state and social security taxes through FSAs. A PayFlex card makes using the account as simple as swiping a debit card. FSAs are available for health care and dependent care. A limited purpose account for eligible vision and dental expenses is also available.

Employees with high-deductible health plans can take advantage of health savings accounts that provide tax-free contributions for qualified medical expenses, reports HealthHub. These accounts are portable when employees change employers, and the balance at the end of the year remains in the account collecting interest on a tax-deferred basis.

Companies can also fund health reimbursement arrangements for their employees, notes HealthHub. Employees can use the funds for co-payments and deductibles; for prescription drug, dental care and vision care expenses; for purchasing eyeglasses and contacts; and for dependent care expenses in a tax-free manner.

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