Frequently Asked Questions

Our prototypes are designed as a combined Premium Conversion/HSA Contribution Plan, so selecting “HSA” as a type of benefit will automatically include the combination plan. This is because the “benefit" being offered by the employer is employer contributions and employee pre-tax contributions to the HSA and other benefits by way of salary reduction, which can only be made via a Section 125 plan. We do not provide a standalone HSA-only template as this would generally be provided by the HSA trustee or custodian.

The HSA itself is not part of an employer's ERISA-covered plan and is administered by the HSA trustee or custodian. Therefore, it is not the concern of the employer. All the employer is responsible for is to ensure that HSA contributions are contributed to the proper HSA in a timely manner. Therefore, the employer (or its TPA) would be listed as the administrator of the PCP for HSA contribution purposes.

If you wish to generate an HSA contribution plan to make tax-exempt contributions to HSAs, you would select "Health Savings Account (HSA) Contributions" as a type of benefit offered. (The employer would be listed as the administrator of the PCP for HSA contribution purposes.) A Premium Conversion and Health Savings Account Contribution Plan SPD and Plan Document will then automatically generate.

Please note that Premium Conversion and HSA Contribution Plans do not have to be included in the Wrap Documents, as they are not ERISA-covered, but some brokers choose to include them in the Wrap to keep all the benefits together in one Welfare Benefit Plan. While it would be prudent to inform employees about the benefit in some manner, determining which non-ERISA benefits to include in the Wrap is ultimately at the employer's discretion.