#USA #Atlanta #InComm Payments #Cash Back #Health Savings Account

InComm Benefits Unveils Cash Back for Health Savings Accounts

In a major step forward for employee benefits, InComm Benefits is set to launch a game-changing feature in January 2025 that will offer a 2% cash back on all eligible transactions made with their Health Savings Account (HSA). This first-of-its-kind offering is designed to amplify the value for account holders and encourage more effective use of their healthcare funds.

The announcement, made by Brian Parlotto, Executive Vice President at InComm Payments, emphasizes the need for increased awareness among consumers regarding eligible expenses that may qualify for reimbursement through their HSAs. Parlotto stated, "Consumers often miss opportunities to use their HSA because they are not aware of expenses that qualify for reimbursement. We are introducing Cash Back to give account holders an opportunity to receive value with every purchase they make using their HSA. Through this initiative, we aim to help them reduce the chance of missing out on eligible expenses."

The InComm Benefits HSA provides a seamless user experience through its integrated card that connects both the HSA and a Backup Account. This smart technology automatically tracks and categorizes expenses, ensuring that eligible healthcare purchases are charged to the HSA, while ineligible transactions are directed to the Backup Account. The cash back rewards are credited straight to the HSA account, enabling users to augment their savings and enhance future purchasing power.

Moreover, this innovative offering is only one aspect of a suite of robust features intended to simplify spending and saving for healthcare expenses. The platform also includes tools for receipt tracking, record keeping, and adherence to IRS rules, allowing users to maximize their tax savings. This comprehensive approach not only benefits employees but also provides employers with higher adoption rates and increased employee satisfaction due to enhanced ease of use and visibility of benefits.

Unique Features of InComm Benefits HSA

• - Cash Back Rewards: 2% cash back on all eligible HSA transactions to incentivize usage.
• - Smart Account Integration: Users benefit from one card managing both HSA and Backup Accounts.
• - Automated Expense Tracking: Eligible medical expenses are automatically identified and charged to the HSA, improving efficiency.
• - Receipt Management Tools: Simplifies record keeping for better financial oversight.
• - IRS Compliance: Ensures users maximize their tax-saving opportunities through pre-defined rules.

InComm Benefits aims to empower account holders by providing them with tools and rewards that enhance their experience with HSAs. By making it easier to access benefits and encouraging active participation in utilizing HSA funds, InComm hopes to redefine employee benefits and create a community where wellness is prioritized.

As the launch date approaches, further details can be found on their website at InCommPayments.com/benefits. InComm Payments continues to be a substantial force in the realm of financial technology, offering innovative solutions that cater to the evolving needs of consumers across multiple industries.

Disclaimer: InComm is not an FDIC-insured bank; banking services are provided by Coastal Community Bank, Member FDIC. The products associated are not insured by any Federal Government Agency and may lose value. Terms and conditions apply to cash back rewards.

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