Can I "Set and Forget" My Employer HSA
- 1 min read
You have many employer-sponsored benefits to manage, like healthcare or a 401k. Newer employer-sponsored benefits like an HSA (health savings account), add advantages but can increase your time requirements. Using a “set and forget” HSA contribution strategy can ensure you save pre-tax contributions today, but don’t waste any time. You enable dedicated health savings for years to come and remove any hassles in your daily life. Can an HSA really be this automated and easy? Yes, it can!
Automated HSA Savings
Once you have set up your employer-sponsored HSA, you can set any one-time or recurring contributions in our HSA platform. This allows you to schedule regular contributions and ensure you are covered when you need to use those funds for qualified out-of-pocket medical expenses. You can always change that automation with just a few clicks or add a one-time contribution as it suits your financial and medical needs. If you really want, you can set your HSA contributions once and let them run for years to come (as long as you are covered by an HSA-eligible health plan during that entire time period).
You are busy. You are managing many employer-sponsored benefits. You might not have time to log into each and every benefits platform every week. Wouldn’t it be nice if your benefits provider kept you in the loop in case any action(s) was required or your monthly account statement has been posted? Automated notifications ensure your HSA communicates with you. You don’t need to access your HSA provider’s website unless you want too. With automated HSA notifications, you get all of the of the benefits of an HSA, without any of the hassles. Save your time and save your HSA money.
Take a Peak! Just in case you want to check on your HSA from time to time you can dive in from any device using our modern HSA platform. There might not be an action item, but it is nice to see your balance increase month over month when you schedule recurring contributions.
Savings or investing your HSA should be easy. Automated contributions and notifications ensure you are maximizing the benefits of your HSA and limiting your time requirements. Modern HSA providers, like Lively, ensure you can “set and forget” your HSA and still login quickly as time permits. It just might be the easiest way to Invest in your health®.
Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.