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Benefit Services

Ease the financial pressure of rising health care premiums and future planning with pre-tax benefit options and retirement plan solutions.

Pre-tax Health Savings Accounts

Saving big with consumer driven health care.
Saving big with consumer driven health care.

66 percent of consumers say planning for out-of-pocket medical costs is challenging. Erase those fears by offering consumer driven health plans to your employees. 

When you choose pre-tax benefit plans from PrimePay, you’ll also receive:

  • Efficient live or email client support.
  • Transparency regarding claims turnaround time.
  • Participant support portal.
  • Convenient mobile app.
Offer your employees the best in pre-tax benefits with PrimePay.

Some people clip coupons or browse the clearance rack without batting an eye. But when it comes to health care, we tend to not think twice about our options. PrimePay helps with administration of consumer driven benefits for your company, no matter the size or choice of plan.

  • Health Savings Accounts (HSAs)
    Health Savings Accounts (HSAs)
  • Flexible Spending Accounts (FSAs)
    Flexible Spending Accounts (FSAs)
  • Health Reimbursement Arrangements (HRAs)
    Health Reimbursement Arrangements (HRAs)

Health Savings Account (HSA)

Your vehicle to savings, without a rollover limit.

This employee owned and funded pre-tax plan can be paired with limited-purpose or post-deductible FSAs or HRAs. Employers can also make contributions.

Money funnels into an HSA (truly, no rollover limit) as it is contributed and it can be used tax-free for medical expenses. 

Those enrolled in a Qualified High Deductible Health Plan (QHDHP) and not covered by any other insurance for health expenses qualify for an HSA. The money in the plan can be used for common medical expenses and since there’s no annual rollover limit, employees can quickly accumulate a significant balance in their HSA.

Why choose an HSA?
  • Pre-tax Contributions
    Pre-tax Contributions
    You don’t pay tax or unemployment on the money contributed to the account.
  • Tax-free Growth & Distributions
    Tax-free Growth & Distributions
    You don't pay taxes on funds used for qualified expenses nor on gains you earn (if funds are invested).
  • Retirement
    Retirement
    HSAs are a great retirement savings vehicle. Many custodians offer a range of investment options.
Learn more about HSAs.
  • FAQs on HSAs: What You Need to Know
    FAQs on HSAs: What You Need to Know
  • Compliance Corner: COBRA Implications with HSAs
    Compliance Corner: COBRA Implications with HSAs

Flexible Spending Account (FSA)

Flexibility you've been looking for.

Thirty-five million. That’s the number of current FSA plans in the U.S. It's no secret - flexibility is key when it comes to health care. 

An FSA is a consumer driven health plan option often funded by the employee, but can be funded by the employer. The account is owned by the employer, while funds are owned by employees. With this tax-advantage plan, employees put money into an account to pay for qualified expenses. 

Why choose an FSA?
  • Tax Savings
    Tax Savings
    Both employees and employers get to benefit from tax savings with an FSA.
  • Out-of-Pocket Cost Assistance
    Out-of-Pocket Cost Assistance
    Increase employees’ awareness and management of out-of-pocket medical costs.
  • Boost Recruiting
    Boost Recruiting
    FSAs are a sought-after benefit, helping you to be competitive in your quest to attract great employees.
FSA resources to help you choose.
  • Compliance Corner: What to Do with Leftover FSA Dollars
    Compliance Corner: What to Do With Leftover FSA Dollars
  • 10 Unexpected Ways Your FSA Can Help With Allergy Season
    10 Unexpected Ways Your FSA Can Help With Allergy Season

Health Reimbursement Arrangement (HRA)

Reimbursement for medical expenses.

HRAs are owned and funded by you, the employer. With this tax-advantage plan, money is available to reimburse employees for out-of-pocket, qualified, medical expenses. Plus, if you have a QHDHP, you may offer a post-deductible HRA with your HSA account. 

Part of this plan's employer funded money is available at the start of the year. HRAs can also be prorated where the employer deposits money each month.

Why choose an HRA?
  • Fund Availability
    Fund Availability
    Money is available at the beginning of the year, made possible by the employer.
  • Contribution Options
    Contribution Options
    HRAs allow participants to have flexibility with their contribution amount.
  • Max Premium Savings
    Max Premium Savings
    You can start purchasing high deductible HSAs to provide savings with IRS maximums.
Resources to help you choose.
  • 5 Common Compliance Issues for HRAs
    5 Common Compliance Issues for HRAs
  • Qualifying as an Eligible Small Employer for a QSEHRA
    Compliance Corner: Qualifying as an Eligible Small Employer for a QSEHRA

Premium Only Plans (POP)

POP, do you need it?

Premium only plans (POP), also referred to as Section 125 Plans, are part of the IRS Section 125 code that helps make benefit programs more affordable for your employees.

In order for the consumer driven health plans that you offer to be tax deductible, you need a POP.

POP is the avenue that allows your employees to pay their consumer driven health plan premiums with tax-free dollars. Plus, employers don't have to pay FICA/FUTA taxes on the money that employees use toward their individual or group health plan premiums.

PrimePay Benefit Services clients get POP free.

That’s right, Great news is, when you choose a pre-tax health plan with PrimePay, POP will automatically be included. Our goal is simplify the benefits process for you – and this is just one way we do it!

Additional POP information for you.
  • Free eBook: Determining the Right Pre-Tax Benefits for Your Small Biz
    Free eBook: Determining the Right Pre-Tax Benefits for Your Small Biz
  • 3 Things to Know About Premium Only Plans
    3 Things to Know About Premium Only Plans

Retirement

Plan for your future, live for today.

And save a little money in between. PrimePay’s retirement solution and its Online Payroll integration can potentially save you hundreds in plan administration fees. 

Our investment options were chosen with you in mind. Here’s a little taste of our offerings:

  • 401(k)
  • SIMPLE IRA
  • Defined Benefit Pension
  • Profit Sharing
  • 403(b)
  • 457

PrimePay’s solution includes a pre-screened menu of investment choices selected from thousands of options.

Payroll + Retirement = Savings

Integrating your retirement plan with our Online Payroll solution makes sense. Aside from lessening admin fees, we:

  • Process and move contributions automatically.
    Process and move contributions automatically.
  • Handle preparation for compliance testing.
    Handle preparation for compliance testing.
  • Provide guidance from certified licensed advisors.
    Provide guidance from certified licensed advisors.
Help your employees plan with these resources.
  • 401(k) Planning Calculator
  • 3 Tips for Small Biz Retirement and Succession Planning
    3 Tips for Small Biz Retirement and Succession Planning
  • State Retirement Plans Now Mandatory in 7 States
    State Retirement Plans Now Mandatory in 7 States