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Prepared for ABC Company

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1 Prepared for ABC Company
TASC HSA Presentation Prepared for ABC Company

2 Presenters 1 Stop Benefits, Inc.
Designers of 21st Century Healthcare Defined Contribution Plan Wrap Supplement with High Deductible Plans Motivate employee Involvement The One Stop Benefits Exchange No Participation or Employer Contributions Hands Free Administration Over 21 Concepts To Reduce Employee Benefit Costs Call US Today Click Here

3 Today’s Agenda Introduction to TASC TASC HSA Overview Why TASC?
Investment Accounts Service Features Administration Why TASC?

4 Introduction to TASC National Third-Party Administrator
Established in 1975 Serving Mid-Large Market Organizations Fortune 500 companies Private and public entities State, county, and city government Headquarters in Madison, WI Over 450 Employees Nationwide

5 Corporate Philosophy Our Mission Our Vision
To work as a team to contribute to our customers’ financial success with innovative services, worthwhile educational opportunities, and excellence in customer service. Our Vision To be recognized as the national leader in all our product lines, to control our own destiny.

6 TASC Core Products Flexible Spending Accounts (FSA) COBRA Continuation
Health Savings Account FMLA Administration Health Reimbursement Accounts (HRA) ERISA Compliance Management Payroll Administration

7 Independent Producers Retailer Relationships
Distribution Model Independent Producers (5,000) Sales Directors (40) Our Clients Wholesaler and Retailer Relationships TASC Direct

8 Health Savings Account (HSA)

9 HSA Defined A Health Savings Account (HSA) is a tax-advantaged savings account that is used in conjunction with a High Deductible Health Plan (HDHP). Full Service HSA Plan (complete administration) Limited Service HSA Plan (separate custodial account by employee) Plan Only HSA (Plan compliance only) Tax-free payroll contributions are made by the eligible employee, their employer, or both. Employees use the HSA to cover qualified medical expenses Fastest growing employee benefit program.

10 TASC HSA Full Service HSA Plan
Offered in conjunction with our Section 125 Cafeteria Plans: FlexSystem Healthcare FSA, or FlexSystem Premium Only Plan (POP) Provides Complete Administration Custodian for Investment Accounts Integrated Investments Convenient Service Features Compliance Services

11 How it Works Employee enrolls in the TASC HSA Plan online and sets-up a custodial account for their contributions. Financial Institution: Healthcare Bank, a division of State Bank & Trust. Pre-tax contributed funds are deposited into the account. Employee receives a Benefits Debit Card. When a qualified expense is incurred, the employee simply requests a distribution for the expense from the account. TASC HSA website Telephone

12 Solutions for Employers
Add depth and flexibility to your employee health benefits and retirement plans with secure, FDIC-insured financial accounts. Save money on health insurance premiums by offering HSAs along with high deductible health plans. Free up Human Resources staff with secure and easy to use online, self-service portals you and your employees can use 24/7/365. Promote healthier lifestyle choices through increased employee involvement and use of 100% covered preventative care. Go Green with paperless online claims, direct deposit reimbursement, and electronic statements.

13 Solutions for Employees
Offset rising healthcare costs with tax-free funds. Plan for future health expenses with tax-free investment accounts that grow year over year—no “use-it-or-lose-it” annual requirement. Easily monitor health spending with secure online account access. Plan for retirement—after age 65, participants can use HSA funds for non-qualifying expenses. HSAs offer a triple tax savings for employees! Federal tax deductions on contributions Tax-free growth on invested funds Tax-free withdrawals for qualified medical expenses

14 Easy Consumer Benefits
No minimum balance FDIC insured cash and interest bearing account Attractive investments Industry leading mutual funds No fees for trades Convenient self-service 24x7 Intuitive Consumer Portal Online enrollment Single sign-on to investments Seamless, flexible fund access Integrated debit card, online access to accounts Automatic, intuitive 2-way sweep

15 TASC HSA Investment Accounts

16 Integrated Investments
Automatic Sweep Automatic Portfolio Rebalancing Powerful Features Integrated Resources The next couple slides are features that show well with prospects - First off - Investments are an integrated part of the HSA offering . Consumers can directly access their investments through a single sign on from the Consumer Portal. You can link directly into your investment account without another user Id and password to remember. The portal makes it easy for consumers to manage their investments. Tools like Automatic Sweeps and Automatic Portfolio Rebalancing allow consumers to set up their preferences once and forget it about. And there are no separate transaction fees. HSA deposits held by HealthcareBank System of record for the investment balance, which is recorded daily Schwab investment platform and Fidelity trading services Remains largely invisible as the custodian of HSA deposits Participants Capabilities: Choose between various investment options: Interest bearing account (default) Additional mutual fund investment options Automatically sweep funds between cash and investment accounts (both directions) 16

17 Sample Investments for illustration purposes only

18 Financial Institution
State Bank & Trust is the designated custodian of the TASC HSA Plan. Quality Investment Management Services for your employees: Experienced and stable investment team and operational support. Superior risk management. Full access to investment, administrative, compliance and planning professionals. Diverse pool of investment resources and research capabilities. Online access and performance reports. Total transparency into portfolio holdings. All performance reports are for actual returns received by clients. No “model” based performance reporting. A recommended list of investment options is available by request.

19 TASC HSA Service Features

20 Functionality and Reliability
Web Site Portal: allows 24/7/365 access to Plan information. Multiple Contribution Methods: employers can choose the best method for making contributions to employees’ accounts using automated scheduling of lump sum, first of the month, or payroll cycle contributions; mid-year enrollments are easily handled. Monthly Reports: generated automatically with alerts directing recipients to secure portals for viewing—creating a virtually paper-free administration process. Multiple Top-Rated Investment Options: maximizes the future value of the funds; no fees for trades. Convenient Account Management Tools for Employees: Easy Online Enrollment: employees establish their TASC HSA account online, along with setting up their direct deposit and investment accounts. Online Bill Pay: employees have direct access to account funds through online distribution requests; sent to employees via direct deposit or mailed check. Benefits Debit Card: employees receive a Visa® debit card for eligible HSA purchases. Mobile App: free download available for any time account access from a mobile device.

21 TASC HSA Website Portal
Secure, easy-to-use web portal 24/7/365 Online Account Access for TASC HSA Participants and Employers Online enrollment Online account management

22 Easy Online Enrollment
Elect Annual Contribution Establish Investment Accounts Set up Direct Deposit

23 Online Account Management
Review account details and balance Request distributions Update addresses Change payroll deduction elections View statements Change beneficiaries Allocate funds into an array of mutual funds using convenient online portals Resources for Investment Accounts Guidance Calculators FAQs Rate of Return and more

24 Online Bill Pay HSA eContribute
Consumers may update their reimbursement and distribution payment methods at any time during the plan year—not just at enrollment. Consumers may choose to have contributions set up from more than one bank account HSA eContribute Consumers may send payment directly to the parties who need payment. Request check to reimburse themselves. Convenience and access to funds are always a big concern for consumers and ers– the on-line bill pay functionality allows consumers easy access their HSA funds and puts them in charge of directing where and when payments are made. Along with the ability to set up new bank accounts to draw contributions and direct distributions at any time of the year. 24

25 Benefits Debit Card Eliminates out-of-pocket purchases and reimbursements by allowing participants to pay for eligible HSA expenses at the point-of-purchase. Mailed to participants after Plan enrollment. One additional card for a dependent or spouse at no charge. Works as a debit card drawing from available HSA funds. *Participants should refer to the list of eligible and ineligible expenses as defined by the IRS, available in the TASC HSA Enrollment Kit.

26 Mobile App for Employees
Free download for Apple® and Android mobile devices Access available balances and important dates from anywhere at any time! Simple log-in

27 HSA Reports: Employer/Consumer
Report Name Description Usage Tip HSA Contribution Notification Employer notification sent prior to contributions being posted Employer to review current posting and provide adjustments if necessary HSA Funding Collection Notification Employer notification that matches the amount withdrawn from their bank account Funding receipt; employer bank account reconciliation HSA Mid-Year Election Notification Employer notification containing consumer mid-year enrollment and election changes Employer to update payroll system 27

28 TASC HSA Administration

29 Plan Implementation Assigned Implementation Team at TASC.
Employer completes a Plan Application and Service Agreement. Employer receives a simple “Set-Up Kit”.

30 Plan Management Plan Funding: TASC HSA is funded by employee and employer contributions (pre-tax). Reimbursements: TASC HSA Participants may request a distribution for an eligible expense any time at the TASC HSA website. They also have the option of using their Benefits Debit Card to directly access account funds. Account Reporting: Clients have access to TASC HSA online 24/7 where Plan design, funding, and account information may be accessed.

31 Compliance Services Included with TASC HSA Administration:
Plan design consultation and review HSA language provided for your Section 125 Plan Document and Summary Plan Description (SPD) Non-discrimination testing for Section 125 Cafeteria Plan with TASC HSA.

32 Why TASC? National Presence Over 35 Years of Experience
Track Record of Excellent Customer Service Innovative Service Offerings Service Transparency and Accountability Multiple Distribution/Service Channels Fast, Reliable, and Accessible Administration

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