Medical Savings Accounts: WEX Health
Your money, health and life are intimately connected. With WEX Health, you get more than what you expect from an account administrator. You get a guide to help you access the tools you need to manage your healthcare costs.
Health Savings Account (HSA)
HSAs allow individuals to save money pretax for qualified health care expenses, such as doctor visits, prescription drugs, and dental and vision care, now or in the future. The money in the account is owned by the individual, and stays with them even if they change jobs, health plans, or retire.
Voluntary Employee Beneficiary Association (VEBA)
A VEBA can be used to help pay for eligible expenses as well as help save for medical expenses in retirement. Employers contribute money to a trust on behalf of their employees.
Health Reimbursement Arrangement (HRA)
With an HRA, employers can contribute funds to an account to help offset health care costs and gain tax advantages. Employees are given money to spend on out-of-pocket medical expenses, tax-free.
Flexible Spending Account (FSA)
Medical flexible spending accounts allow you to set aside a portion of earnings to pay for qualified medical expenses, including dental and vision. The payroll tax burden is reduced for employers who offer this program as well.