Direct Reimbursement Services Ltd. (DRAS) is proud to offer
Health Savings Accounts (HSA) in partnership
with PNC Bank.
This partnership will allow us to offer the most competitive pricing available.
If your company already offers a High Deductible Health Plan (HDHP) or is thinking about switching to one, the PNC Health Savings Account (HSA) can help you offer the total package for employees. A PNC Health Savings Account, combined with a high deductible health plan, can help you share the high cost of healthcare with employees in a way that benefits everyone.
Employees strive for good health and wellness, but when the unexpected happens or an ongoing illness surfaces, they should be prepared financially to do what's best for their health. If you offer a High Deductible Health Plan, employees will benefit from lower premiums, but this also means they may need to be prepared financially to pay a higher deductible.
A PNC HSA is designed to help them save for qualified medical expenses on a tax-advantaged basis. It's easy - they contribute money saved on low premiums to their HSA and that money has the potential to grow so they can afford the deductible when needed.
Your company benefits by sharing the cost of healthcare benefits with employees, which means:
Attraction and retention of quality employees - healthcare benefits, such as an HSA, are a highly desirable component of a benefits package.
Healthcare cost savings - can help your company and your employees save on healthcare costs.
Flexible contribution guidelines - you choose whether or not to contribute on your employees' behalf, how much and how often.
Potential tax savings.
Minimal administration - a PNC representative can come to your workplace for HSA education.
Multiple payroll contribution options - as the employer, you decide what is the best method for your business: through your payroll provider, web upload via our payroll portal or data file (employees can also contribute through a scheduled or one-time ACH contribution from their personal bank account or by check contribution through U.S. mail).
Flexibility - you have the ability to switch health insurance carriers without changing financial institutions.
Cost savings - no setup fee or transaction fees and low monthly administration fee. - Ability to pay low monthly administration fee on behalf of the employee.
Employees benefit by contributing savings on insurance premiums to their HSA and using that savings to pay for future medical expenses. Additional benefits include:
Cost savings -when they choose a low premium HDHP, instead of paying more to the health insurer, the invested difference in their HSA helps to build financial security.
Control - they own the account and the money in the account.
Tax savings - benefit from tax-advantaged contributions, earnings and withdrawals for qualified expenses.
Long-term savings - funds roll over from year-to-year if unused. The balance in their HSA will generally grow tax-free with no pressure to use the full balance by year-end. They may be able to use unused balances to supplement retirement income after age 65, subject to applicable income taxes.
Ownership - their money stays with them even if they switch jobs, change medical coverage, become unemployed or retire.
