In today’s competitive job market, offering attractive employee benefits is essential for attracting and retaining top talent. One effective way to enhance your benefits package is by providing low-cost Health Savings Account (HSA) investment options. NueSynergy stands out as a leader in this space, having been named among the top HSA providers by Morningstar. Our innovative solutions not only support employee health but also promote financial wellness. Let’s explore the key benefits of integrating low-cost HSA investment options into your employee benefits strategy.
1. Investment Growth Potential
NueSynergy offers a diverse range of investment options within its HSAs, allowing employees to grow their savings over time. With low expense ratios and a selection of high-quality investment choices, employees can benefit from potential market gains while preparing for future healthcare costs. As previously mentioned in Morningstar, NueSynergy’s investment offerings include no Neutral- or Negative-rated funds, and 64% of its menu was Gold-rated as of August 2024. This investment growth can significantly enhance their financial security.
2. Flexibility and Accessibility
NueSynergy’s HSAs are designed to be user-friendly and accessible. Employees can easily manage their accounts online, making it simple to track contributions, investments, and withdrawals. This flexibility empowers employees to take control of their healthcare spending and investment strategies, fostering a sense of ownership over their financial health.
3. Attracting and Retaining Talent
Offering low-cost HSA investment options can set your company apart in the eyes of potential employees. As more individuals prioritize financial wellness in their job search, providing a robust benefits package that includes HSAs can enhance your employer brand. NueSynergy’s commitment to affordable and effective HSA solutions makes it an attractive choice for companies looking to improve their benefits offerings.
4. Promoting Financial Literacy
By integrating HSAs into your employee benefits, you also promote financial literacy among your workforce. NueSynergy provides resources and support to help employees understand how to effectively use their HSAs for both immediate medical expenses and long-term investment growth. This education empowers employees to make informed decisions about their healthcare and finances.
Incorporating low-cost HSA investment options through NueSynergy into your employee benefits package is a strategic move that can enhance employee satisfaction and loyalty. With the potential for tax savings, investment growth, and increased financial literacy, HSAs represent a win-win for both employers and employees. By prioritizing these benefits, you can create a healthier, more financially secure workforce.
Health Savings Accounts (HSAs) are not just for covering medical expenses—they can also be a powerful tool for long-term investment. Recently named as one of the Top HSA providers in 2024 by Morningstar, NueSynergy offers unique investment opportunities that can help you grow your savings while enjoying significant tax benefits. In this blog, we’ll explore how NueSynergy’s HSAs can be leveraged for investment purposes, providing a dual benefit of healthcare savings and wealth accumulation.
Tax Advantages of HSAs
One of the most compelling features of HSAs is their triple tax advantage:
Tax-deductible contributions: Contributions to an HSA are made with pre-tax dollars, reducing your taxable income.
Tax-free growth: Earnings from interest, dividends, and capital gains within the HSA are not taxed.
Tax-free withdrawals: Withdrawals for qualified medical expenses are tax-free.
These benefits make HSAs more advantageous than traditional retirement accounts like 401(k)s and IRAs.
Investing with NueSynergy’s HSAs
NueSynergy stands out for its investment-friendly features. Here are some key points to consider:
1. High-Quality Investment Options
NueSynergy offers an all-ETF lineup, which is the cheapest among its peers, with an average expense ratio of just 0.05%. This low-cost structure allows you to maximize your investment returns. Additionally, as stated in Morningstar, NueSynergy’s investment offerings include no Neutral- or Negative-rated funds, and 64% of its menu was Gold-rated as of August 2024. This high-quality selection ensures that your investments are in reliable and well-performing funds.
2. No Minimum Balance Requirements
NueSynergy does not require a minimum balance to start investing, making it accessible for all account holders. This flexibility allows you to begin investing as soon as you open your HSA, without having to wait until you accumulate a certain balance.
Strategies for Maximizing Investments with NueSynergy
To make the most of your HSA as an investment tool with NueSynergy, consider the following strategies:
1. Maximize Contributions
For 2025, the maximum HSA contribution is $4,300 for individuals and $8,550 for families. If you’re 55 or older, you can contribute an additional $1,000. Maximize your contributions each year to take full advantage of the tax benefits and growth potential.
2. Invest Aggressively Early On
If you’re young and healthy, consider investing aggressively in your HSA. With a longer time horizon, you can afford to take on more risk, which can lead to higher returns.
3. Use Other Funds for Medical Expenses
To allow your HSA investments to grow, try to cover current medical expenses out-of-pocket if possible. This way, your HSA can continue to grow tax-free, providing a larger nest egg for future healthcare costs or retirement.
NueSynergy’s Health Savings Accounts offer a unique opportunity to combine healthcare savings with robust investment potential. By understanding the tax advantages and investment opportunities NueSynergy provides, you can maximize your financial health and secure a more prosperous future.
NueSynergy has earned its place among the top HSA providers by offering a range of features that cater to the needs of its users:
Investment Options: NueSynergy was recognized for its extensive variety of value-based investment options, with the majority consisting of gold rated Morningstar funds.
Competitive Interest Rates: Account holders benefit from competitive interest rates on their deposits, ensuring their money grows even as they use it for medical expenses.
User-Friendly Platform: The intuitive platform makes it easy to manage accounts, track expenses, and make informed investment decisions.
National HSA Day
Earlier this week, we celebrated National HSA Day, which recognizes the importance of Health Savings Accounts (HSAs), raising awareness about their benefits. HSAs can be used not only for immediate medical expenses but also as a strategic tool for retirement planning. By understanding and utilizing HSAs, individuals can take control of their healthcare finances and secure a healthier financial future.
As we celebrate National HSA Day, it’s the perfect time to explore the benefits of HSAs and consider why NueSynergy is a top choice for managing your healthcare savings. With its competitive interest rates and robust investment options, NueSynergy stands out as a leader in the industry. Take advantage of this day to learn more about HSAs and how they can benefit you and your family.
What is an HSA?
A Health Savings Account (HSA) is a tax-advantaged savings account designed to help individuals with high-deductible health plans (HDHPs) save for medical expenses. HSAs offer a triple tax benefit: contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free. This makes HSAs a powerful tool for both current healthcare spending and long-term savings.
About NueSynergy
NueSynergy is known for industry-leading service, innovative technology, and excellence in providing full-service administration of consumer-driven and traditional account-based plans to employers of all sizes and sectors. NueSynergy offers a fully integrated suite of administration services, which include Health Savings Account (HSA), Health Reimbursement Arrangement (HRA), Flexible Spending Account (FSA), Lifestyle Savings Account (LSA), and COBRAcare+ administration as well as SpouseSaver Incentive Account, Combined Billing, Direct Billing, and Specialty Solutions. For more information, visit https://nuesynergy.com/
About Morningstar
Morningstar is a leading provider of independent investment research and insights. The company offers a wide range of products and services for individual investors, financial advisors, asset managers, and institutional investors. Morningstar provides data and research on various investment offerings, including mutual funds, ETFs, stocks, and bonds. Additionally, they offer investment management services through their subsidiaries, managing approximately $286 billion in assets as of December 31, 2023. Morningstar operates in 32 countries, empowering investor success globally.
Summer is right around the corner (June 21)! Whether you have plans to travel or are staying closer to home, your Flexible Spending Account can help you stock up on summer essentials without breaking the bank. Depending on your activity, your FSA can provide a variety of products! Below is a list of the top items to not only enhance your summer experience but also ensure your health and wellness.
Sunscreen
Sunscreen is a no-brainer when it comes to summer. With more time spent outdoors, protecting your skin from harmful UV rays is crucial. The last thing you want to worry about before heading to the beach or the pool is sunscreen. Buying sunscreen while on vacation can also be more expensive. Click here for all FSA eligible sunscreen bundle options.
First Aid
Whether you are dealing with mosquito bites, blisters from those long summer walks, or minor cuts and scrapes, accidents happen and being prepared is key. Click here for all FSA eligible medicine and treatment care.
Shoe Inserts
Comfortable footwear is essential for enjoying summer activities. A shoe insert can help reduce foot pain offering extra padding and improve blood circulation. Click here for all FSA eligible foot care options.
Eye Care
Protecting your eyes is just as important as protecting your skin. If you wear contact lenses, you want them to stay comfortable and clean. The FSA store offers a variety ofcontact lens solution and eye drops to make sure your eyes don’t get irritated throughout the days. Let’s not forget about the UV rays! The FSA store also offers sunglasses with or without prescription!
Your FSA is more than just a healthcare benefit; it’s a gateway to a healthier, more enjoyable summer. By investing in these FSA-eligible essentials, you’re not only making smart financial choices but also ensuring that you and your family can fully embrace all the joys that summer has to offer. So, dive into the season with confidence, knowing that you’re covered for every sunny day ahead.
For all FSA eligible items, or other HRA and HSA eligible items, click here.
Note: The products mentioned are based on the latest available information and are subject to change. Always check with your FSA provider for the most current eligibility list.
LEAWOOD, Kansas – NueSynergy, Inc., one of the nation’s fastest growing employee benefits and billing administrators in the country, is pleased to announce its preferred partnership with Broker Builder Solutions (BBS), a national leader in support services for the benefits and technology industry.
“NueSynergy is an industry partner that reflects our shared commitment to solution-oriented strategies for benefits brokers and Human Resource professionals within the employee benefits sector,” said Tonya Taylor, Marketing Leader and Client Relationship Liaison at BBS. This alliance leverages both teams’ expertise to educate clients and effectively provide solutions to their benefits administration and technology challenges. Our shared foundation of outgoing and professional staff is crucial in delivering excellence to the industry and the companies we serve. Through this collaboration, BBS looks forward to expanding our network of trusted benefits professionals.”
NueSynergy continues to achieve exceptional business results with innovative products like its SpouseSaver Incentive Account and COBRAcare+ administration. NueSynergy will work with BBS to offer agents and agencies a wide variety of administrative services for their new and existing employer clients.
“After investing heavily in technology and expansion of our overall infrastructure, NueSynergy has concentrated on partnering with well-known benefits leaders as we continue to expand our nationwide presence,” said Josh Collins, President of NueSynergy. “As we continue to focus on industry-leading service and expanding administration solutions for employers, we have found Broker Builder Solutions to be a natural fit in helping us build new broker and client relationships.”
About NueSynergy NueSynergy is known for industry-leading service, innovative technology, and excellence in providing full-service administration of consumer-driven and traditional account-based plans to employers of all sizes and sectors. Headquartered in Leawood, Kansas, NueSynergy also has locations in Arizona, Florida, Idaho, North Carolina, Pennsylvania, Virginia, Washington, and Rzeszów, Poland.
NueSynergy offers a fully integrated suite of administration services, which include Health Savings Account (HSA), Health Reimbursement Arrangement (HRA), Flexible Spending Account (FSA), Lifestyle Savings Account (LSA), and COBRAcare+ administration as well as SpouseSaver Incentive Account, Combined Billing, Direct Billing, and Specialty Solutions. For more information, visit www.NueSynergy.com.
About Broker Builder Solutions Broker Builder Solutions is dedicated to assisting organizations with their benefits administration needs. Whether setting up a new benefits administration platform or maintaining/leveraging an existing platform, BBS can help. With over 15 years of benefit administration experience, the BBS team are experts in leveraging Ben Admin platforms to provide seamless implementations and carrier file transmissions. But their most important win is fostering positive and long-lasting relationships with all organizations across the benefits industry ecosystem.
BBS has expertise in Client Implementation, 834 EDI File Implementation, Carrier and Payroll Integrations, Eligibility Maintenance Support, ACA Reporting, and Data Migration support for cross platform transitions. For more information, visit www.brokerbuildersolutions.com.
