The Tompkins HSA Employer Portal is a self-service solution that gives you the tools to manage the activity of your company’s HSA plan. Simply log in to the portal and you will be able to load employee data, review monthly reports and answer your employees questions.
The Tompkins HSA Employer Portal is convenient and easy to use. Some of the benefits include:
- Streamlined onboarding of every HSA account.
- Simplified administration and contribution process of your employee HSA accounts.
- Reporting needs available.
- A department dedicated to the administration of the HSA accounts and is there to answer any of your questions.
Perks For Employees
- Their funds are contributed tax-free.
- Their funds grow (with interest or through investment) tax-free.
- Their funds can be withdrawn tax-free when used on eligible expenses.
- Their funds carry over from year to year.
Perks For Employers
- Your contributions to your employees’ HSAs are tax deductible.
- Your employees’ contributions reduce your payroll taxes.
- You save on healthcare costs, since HDHP coverage is more affordable for you.
What is a Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-advantaged savings account that is used in combination with a High Deductible Health Plan (HDHP) and gives your employees a new way to manage healthcare costs. They can use the HSA funds to cover qualified medical expenses—from copayments at the doctor’s office to pharmacy bills, dental care, vision care, and more.
With the Tompkins HSA, any earnings on employer and employee contributions are tax-advantaged.* Meaning, earnings on your HSA dollars are not subject to taxation. The HSA account is funded by pre-tax contributions by the employee. Employers and other third parties also, can contribute to the account. The employee determines the amount of money that is withheld each paycheck before payroll taxes are deducted. This gives employees more take-home pay, while you, their employer, pay less in FICA and FUTA payroll taxes. When an employee incurs a qualified medical expense, they can pay using the Tompkins HSA Debit card, online bill-pay or other methods.
If the employee doesn’t have enough money in their HSA to cover a medical expense, they can make a partial payment and pay the difference using another method. There is no “use it or lose it” condition. Any unused funds remain in the account and continue to accrue interest until used.
Tompkins Employer HSA Guides
Tompkins HSA Consumer Portal
Account holders access their accounts via their own secure portal, mobile app and Mastercard® debit card. For more information regarding the Tompkins HSA Consumer Portal, visit our Consumer HSA page.