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Employee Benefits for Your Corporation

Opening Your Olympia Benefits HSA Plan:
Click the following button or scan the QR code below and complete the necessary information including business details, banking information, employee classifications, and enrollment.

Funding claims can be done through bill payments or monthly transfers. For further assistance or discussion, feel free to reach out to Olympia Benefits (tel: 1-888-668-8384 or email: info@olympiabenefits.com)

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An employer-provided Health Spending Account (HSA) is a tax-free allocation given by the employer to employees.

This allowance allows employees to cover their health and dental expenses within a specified limit set by the employer. Reimbursements for claimed expenses are tax-free for employees, while the corresponding plan costs are considered pre-tax expenses for the business.

Attached are resources including a sample plan detailing classifications and limits, options for additional insurance, a scenario calculator for plan designs, and lists of eligible and ineligible expenses.

The top section of the sample plan outlines the spending account, with classifications and limits provided as examples. Below, additional insurance benefits that can be added onto the Olympia HSA plan are listed. The Olympia Group HSA plan allows businesses to customize benefits to fit their needs, selecting only desired benefits.

Classifications and Annual Limits:
Employers determine annual allocations for each employee by creating classifications and assigning employees accordingly. These classifications can be tailored to suit the business’s structure and needs.

Claims Process:
After paying health and dental bills, employees submit claims online or via the Olympia claim app. Olympia reimburses employees up to their annual HSA limit, with tax-free reimbursements typically deposited into their personal bank accounts within 1 to 3 business days.

Eligible Expenses:
All health, dental, vision, prescription, and paramedical expenses are eligible for claim reimbursement. Refer to the attached list for details on eligible and ineligible expenses.

Claim Funding:
Employers can fund the plan through lump sum payments or monthly fixed pre-authorized debit payments, or a combination of both methods.

Benefits of an Olympia Group HSA Plan:

  • Budget control for employers
  • Tax-free reimbursements for employee
  • Online claims processing and mobile app
  • Employee access for balances, claims history, and support
  • Employer administrative functions online
  • Flexible benefits with employer control
  • Cost of the plan is a pre-tax expense
  • Option for claims exceeding annual allowance limit at employer’s discretion
  • Additional insurance options available à la carte

**Fees:**
Setup fee: $335 + $40 per employee
Ongoing administration fee: 8% of paid claims
Annual membership fee: $99