Spend and save.
The solution for employers who want the best of both worlds.
Balancing saving and spending on health care is tough. Offering our BESTflex Limited Health Care Flexible Spending Account (LHCFSA) together with our SimplyHSA is the solution.
IRS guidelines dictate that a consumer can’t have two benefits sources to pay for your medical expenses. For example, an employee can’t have a health care flexible spending account and a savings account at the same time.
We have an answer to that. Our LHCFSA exists solely to coexist with our Health Savings Account, the SimplyHSA.
IRS Compatible Benefits
While our standard Health Care FSA BESTflex Plan is not compatible with our SimplyHSA, we offer the Limited Health Care FSA as part of the BESTflex plan. The LHCFSA is 100% IRS compliant with our SimplyHSA.
The one-two punch of a BESTflex LHCFSA and a SimplyHSA is the best way to save money for health expenses, while still having available funds on hand to spend on certain health expenses.
High Deductible Health Plan (HDHP)
You must have a high deductible health plan (HDHP) in order to qualify for a SimplyHSA. An HDHP is a self-descriptive health insurance plan with low premiums and high deductibles.
The Benefits Card
The Employee Benefits Corporation Benefits Card is a convenient payment method for participants making an eligible medical purchase using their SimplyHSA or LHCFSA.
The Benefits Card is a prepaid debit card that participants use to draw from their benefit accounts to pay for eligible medical expenses.