HSA Bank also brings a defined contribution (DC) offering to the marketplace that is connected to its account-based benefits with a flexible integration to private exchanges. With a DC model, employers provide employees with a fixed amount of money with which to purchase insurance.
The company explains HSAs allow participating employees to pay for IRS-qualified medical expenses tax-free. HRAs are employer-owned and funded tax-advantaged accounts, which reimburse employees for out-of-pocket medical expenses as defined by the employer. FSAs are tax-advantaged accounts established through an employer to pay for various health care and dependent care, not covered for by another plan.
More information is at www.hsabank.com.