Download tax-advantaged accounts for your employee benefits

EMPLOYEE BENEFITS SOLUTIONS
PNC BENEFIT PLUS:
TAX-ADVANTAGED ACCOUNTS FOR
YOUR EMPLOYEE BENEFITS PROGRAM
Are you looking for ways to effectively and efficiently control your healthcare
costs while still offering competitive and attractive benefit programs for your
employees? As one of the nation’s top financial services companies and with
over 25 years of experience in the healthcare industry, PNC can help you:
CONTROL HEALTHCARE COSTS
INCREASE EFFICIENCIES
IMPROVE BOTTOM-LINE RESULTS AND
EMPLOYEE SATISFACTION
In response to short- and long-term cost concerns, a
growing percentage (81%) of employers plan moderate
to significant changes to their healthcare plans over
the next three years, up from 72% a year ago.*
*“U.S. Employers Expect Health Care Costs to Rise 4% in 2015.” Towers Watson. August 2014.
http://www.towerswatson.com/en/Press/2014/08/us-employers-expect-health-care-costs-to-rise-4-percent-in-2015
pnc.com/pncbenefitplus
AN ALL-IN-ONE
SOLUTION
Backed by its industry-leading technology and comprehensive
customer support, PNC BeneFit Plus offers you an all-in-one
solution for administering Health Savings Accounts (HSAs),
Flexible Spending Accounts (FSAs), including Medical and
Dependent Care, Health Reimbursement Arrangements (HRAs)
and Qualified Transportation Accounts (QTAs), through a
consolidated, online portal that is simple and easy to manage.
ADD SAVINGS AND FLEXIBILITY
TO YOUR EMPLOYEE
BENEFITS PROGRAM
When annual enrollment approaches each year,
increasing healthcare costs coupled with the demand
for attractive employee benefit plans is becoming
more and more of a challenge for your company
to manage.
If you offer a High Deductible Health Plan (HDHP),
your employees will benefit from lower premiums,
but they may need to be prepared financially to pay
a higher deductible.
Coupled with an HSA, an HDHP can help your
employees share financial responsibility with you
for their healthcare expenses but also help both
of you gain potential tax advantages.1 Or perhaps
you would like to offer additional employee benefit
accounts, such as an FSA, HRA, or QTA, or are
thinking of switching to one of these plans? With
PNC BeneFit Plus, you can centrally manage one or
multiple types of accounts bringing flexibility and cost
savings to your employee benefits package.
HSAs EMPOWER YOU
AND YOUR EMPLOYEES
If you offer a High Deductible Health Plan (HDHP),
an HSA is designed to help your employees save for
qualified medical expenses2 on a tax-advantaged
basis.1 By offsetting the cost of higher deductibles
with tax advantages and earned interest, HSAs can
provide your employees a smarter way to manage
their healthcare expenses.
This helps you attract and retain the employees you
need to manage your business.
HSAs benefit employers because they can:
• Provide healthcare cost savings. Both you and
your employees can benefit from healthcare cost
savings when you combine an HDHP with an HSA.
• Allow you to offer an enhanced benefits
package, which helps you attract and retain great
employees.
• Use the money saved by offering an HDHP and
HSA on other types of health insurance such as
an FSA for dental or vision coverage.
• Offer flexible contribution guidelines. You can
choose how often and how much you would like
to contribute to your employees’ accounts.3
• Gain potential tax savings. Your contributions to
employees’ accounts may qualify as deductible
business expenses and are exempt from FICA and
other employment taxes.1
HSAs benefit your employees by allowing them to:
• Gain tax savings. Employees can enjoy taxadvantaged contributions, earnings and
withdrawals for qualified medical expenses.1
• Maintain ownership. Control of the account
belongs to the employee, regardless of changes
to their insurance coverage or employment.
• Roll over funds year after year. Funds never
expire. This makes an HSA a smart choice for
retirement planning.
• Enjoy multiple options for making contributions
into their account.
• Choose to invest in a variety of mutual funds
offered upon meeting certain minimum balance
requirements.4
• Pay for qualified medical expenses with multiple
options, including:
• Debit card at the point of sale
• Online Bill Pay — pay providers directly
online via check
• Request a check or direct deposit to the
employee’s personal bank account for
reimbursement of qualified medical expenses.
RETAIN CONTROL WHILE
OFFERING THE BENEFITS YOUR
EMPLOYEES DESIRE
Flexible Spending Accounts (FSAs) allow you or your
employees to set aside pre-tax dollars that can be
used for qualified medical expenses or dependent
care expenses within a plan year. You maintain
control of the funds and reimburse your employees
upon claims approved with proof of qualified medical
expenses incurred. PNC supports employer plan
sponsored Health FSAs, Dependent Care FSAs and
Limited-Purpose FSAs.3
Health Reimbursement Arrangements (HRAs)
allow you to provide a health benefit to your
employees while maintaining control over your cash
flow. You decide what healthcare expenses can be
covered and where during the plan year based on
the HRA plan type you choose for your employees.
Claims for qualified medical expenses must be
substantiated.3
Qualified Transportation Accounts (QTAs), regulated
by the IRS, allow you or your employees to contribute
pre-tax dollars that can be used for eligible
transportation and parking expenses.1
ONE CARD FOR MULTIPLE ACCOUNTS
Your employees can use their single
PNC BeneFit Plus debit card, capable of
transacting across one or multiple benefit
accounts, to pay for qualified medical or
other eligible expenses at the point of sale.
PNC BENEFIT PLUS: ONLINE
CAPABILITIES EASE MANAGEMENT
OF YOUR BENEFIT OFFERINGS
The PNC BeneFit Plus online portal consolidates
the management of all your benefit account offerings
requiring minimal administration. Robust reporting
capabilities provide the details you need all in one
place. Intuitive navigation helps provide your
employees with insight and empowerment they
desire when managing their health expenses and
HSA investment options. You can also:
• Upload payroll files for funds contributions from
you or your payroll provider.
• Set up multiple types of accounts through simple
file upload for easy enrollment.
• Receive email notifications to help in managing
employee accounts.
YOUR EMPLOYEES CAN
MANAGE ACCOUNTS ON THE GO
With the PNC BeneFit Plus mobile app, your
employees can manage their account(s)
anywhere and anytime. They can:
• Submit claims and upload receipt images.
• Utilize the “Expense Tracker” tool to store
receipts for recordkeeping purposes (for HSA
employees) or to assist in filing claims later.
• View account and transaction details, balance
information, and account activity.
• Request distributions and make contributions
(for HSAs).
• Ask questions via email
straight from the mobile app.
The PNC BeneFit Plus mobile
app is compatible with Apple®
devices (iPhone,® iPod touch,®
iPad®) version 6.0 and higher, and
AndroidTM devices version 2.2 and higher.
READY TO HELP
To learn more about how we can bring ideas, advice and solutions
to your business:
•Call your Treasury Management Officer or WorkPlace Banker
•Visit pnc.com/pncbenefitplus
•Contact us at 1-800-669-1518 or [email protected]
1 PNC does not provide legal, tax or accounting advice. Consult your tax advisor about tax benefits applicable to Health Savings Accounts or other benefit accounts such as FSAs, HRAs or QTAs.
2 To view a partial list of qualified medical expenses, see IRS Publication 502, available at http://www.irs.gov/pub/irs-pdf/p502.pdf
3 Subject to IRS limits for the current tax year. To view the annual IRS contribution limits, please visit IRS Publication 969, available at http://www.irs.gov/pub/irs-pdf/p969.pdf
4 Shares of mutual funds are not deposits or obligations or guaranteed or endorsed by any bank, nor are they federally insured or otherwise supported by the Federal Deposit Insurance
Corporation or other government agency. Investments in mutual funds may lose value, including possible loss of principal. Please read the prospectus carefully before you invest.
Investments Not FDIC Insured. No Bank or Federal Government Guarantee. May Lose Value.
PNC is a registered mark of The PNC Financial Services Group, Inc. (“PNC”).
Android is a trademark of Google Inc.
Apple, iPhone, iPad, and iPod touch are trademarks of Apple Inc. registered in the U.S. and other countries.
Banking and lending products and services, bank deposit products and treasury management services for clients and/or customers are provided by PNC Bank, National Association,
a wholly-owned subsidiary of PNC and Member FDIC.
©2015 The PNC Financial Services Group, Inc. All rights reserved.
pnc.com/pncbenefitplus
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