Aya’s prepaid Mastercard® health spending account for medium sized businesses is the ideal solution for all your group benefit requirements. Do your insurance premiums increase every year or two and cost more than you actually receive in benefits? You are not alone, this is a trend with group benefits, but there is an answer; health spending accounts (HSAs). Also, wellness spending accounts (WSAs) are great when combined with HSAs, providing an additional level of expenses for employees; allowing employees to expense items like gym memberships, yoga classes or new running shoes in addition to all the health-related expenses covered by HSAs.
Health spending accounts provide employers with cost certainty; they choose the amount allocated to each individual, thus providing a fixed cost. Also, the amount allocated to a health spending account does not change from year to year unless the employer decides to make a change. Employers only pay for expenses incurred by employees, any unused allocations are rolled over to the next year or returned to the employer.
Hiring and retaining talented employees is a goal for every business, no matter what size they are but for medium sized businesses replacing talent can be a costly and unwanted expense. Health spending accounts should be considered both a hiring and a retention tool for employees. HSA’s are the single largest incentive for an employee to stay with an employer.
| Traditional Benefits | Aya | |
| Combined benefit amount is unknown | ✔ | Benefit amount if fixed and determined by employer |
| Future premium increases are based on total plan usage by group members, which is unknown | ✔ | Employer budget is fixed and does not increase unless you choose to increase |
| No refunds for unused benefits | ✔ | Refunds are provided if benefits not used |
Aya’s prepaid Mastercard® allows employers to load a predefined amount onto a globally accepted Mastercard®. Employers can load the card monthly, quarterly, or annually and employees can use the card only at health and wellness merchants. Aya’s prepaid Mastercard® allows your employees to never have to spend out of pocket for any health or wellness related expense.
Controlling expenses is important for all medium sized businesses and having expenses that they can control is even better; health spending accounts provide employers with that option and it is a 100% tax-free benefit. Health spending accounts also provide employees with the flexibility of where they spend their benefits instead of pre-defined group benefit packages. Health spending accounts are a great option for medium sized businesses.
