Voya HSA Suite Aimed At Employees - InsuranceNewsNet

Get access to exclusive stories you won’t find anywhere else. Get Access

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Health Insurance Newsletter
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Sponsored Content
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
Health Insurance Newsletter
Health Insurance Newsletter RSS Get our newsletter
Order Prints Share
January 24, 2019 Health Insurance Newsletter No comments Views: 292

Voya HSA Suite Aimed At Employees

By Wire Reports

Voya Financial's newest product is a suite of health saving and spending accounts to be offered as optional workplace benefits.

The suite will initially include the following tax-advantaged accounts: an HSA to be used in combination with high deductible health plans, a health flexible spending account, a limited purpose FSA, a dependent care FSA and a commuter benefit account.

“Our new suite of savings and spending accounts will give employees even more tools to help them realize their financial goals, offering options for handling unexpected health care costs without dipping into their retirement savings,” said Rob Grubka, president, Voya Employee Benefits. “And we are giving employers the flexibility to choose what best fits their benefits portfolios and the ability to meet the needs of their employees.”

Voya’s research has found approximately one-third of retirement plan hardship withdrawals are due to an unexpected medical expense.

The health savings and spending accounts will have the following features:

Ease of use, flexibility of choice and outcomes for employers and employees are at the heart of the new suite of solutions. Some of the offerings include:

  • One portal for employers, and one portal or mobile app for employees who opt into the accounts, allowing access and management of all of their Voya health savings and spending accounts in one place and with one password.
  • One multi-purse, Voya Health Savings and Spending Accounts debit card - meaning one card and one PIN for account holders. And, payments using the card are automatically drawn from the appropriate accounts, eliminating a step and potential stress point.

In addition, HSA account holders with $2,000 or more in their HSA may choose to actively manage their account and select their investment options within their HSA. For the Voya HSA, Voya Investment Management is providing manager selection and oversight and has constructed the HSA investment menu that includes a mix of funds managed by Voya Investment Management and other managers.

 

 

Older

Protective Life Acquires Great-West Life/Annuity Book In A $1.2B Deal

Newer

ACA Marketplaces More Stable After Turbulent 2018

Advisor News

  • Vanguard: Expect 2020 U.S. Economic Growth To Tail Off
  • Rep. Waters: House Passes Financial Services Bill Banning Insider Trading
  • LPL Financial Launches No-Transaction-Fee, Exchange-Traded Fund Network
  • 16 Year-End Financial Planning Tips From The AICPA
  • Massachusetts Rule Would Impose Fiduciary Standard For All Advice
More Advisor News

Annuity News

  • Robert Kerzner Joins PHP Agency’s Board Of Directors
  • Patriot Life Insurance Co. Boosts Life & Annuities Underwriting Capabilities
  • Commentary: Ned Ryerson Is Just As Cool As Gordon Gekko
  • Industry, Consumer Reps Take Final Whack At NAIC Annuity Sales Rule
  • MassMutual Study Finds Employers Worried About Employees’ Financial Woes
More Annuity News

Health/Employee Benefits

  • Rising Prices Drive Up Health Spending, Even As Use Remains Steady
  • US Report: Prescription Drug Prices Down Slightly Last Year
  • Milliman Analysis: Corporate Pension Funding Rises By $15B In November
  • Poll: Most In U.S. Still Favor Private Healthcare, But Numbers Falling
  • Survey: Most Consumers Satisfied With Their Health Insurance
More Health/Employee Benefits

Life Insurance

  • Pacific Life Sells Aviation Capital Group To Tokyo Century Corp.
  • Robert Kerzner Joins PHP Agency’s Board Of Directors
  • Florida Man Convicted Of Murdering Wife For Life Insurance
  • LIMRA: 3Q Life Insurance Sales Driven By 7% Bump In IUL
  • Foresters Financial Updates Underwriting To Cover Pot Smokers
More Life Insurance

Featured Offers

Text Ads

Press ReleasesAll press releases

  • Brookstone Capital Management Expands Darryl Ronconi’s Role, Naming Him President and Chief Operating Officer
  • WoodmenLife Launches Unified Selling Experience for Agents with iPipeline
  • National Western Life Selects Equisoft to Accelerate its Growth Strategy
  • Peter M. Bakker Agency awarded first Insurance Agency Apprenticeship in the State of Connecticut
  • iPipeline’s New Global Website Features Extensive SSG Digital Platform Offering
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.