Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
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 CIB TM PDF 0715-089-195125