K E N Z
INNOVATION HCM

Healthcare Benefits Accounts

Reliable employee healthcare benefits account to simplify benefits and the complexities of healthcare financing.

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Kenz
Kenz
Kenz

Flexible Healthcare Benefits and Spending Accounts

Companies spare no efforts to offer the best benefits plans but often lack resources and tools to make their benefits administration effective. Hence, Kenz offers healthcare spending and benefits accounts to elevate the focus on employee benefits strategies and make them more cost-efficient. This allows employees to be more engaged and play an active role in managing their health benefits costs. Our solutions include a health savings account (HSA), flexible spending account (FSA), and health reimbursement arrangement (HRA) that attract more employees to benefits plans, control costs, and reduce tax bills.

Kenz integrates industry-specific tools and technologies to tackle all the account activities and deductions for benefits from one system. Enjoy administrative simplicity, add convenience, and reduce risks with a single point of contact for all accounts

Benefits Accounts Options Offered
By Kenz

With our customized healthcare benefits accounts, we simplify your benefits offerings and ensure
an enhanced employee experience.

Flexible
Spending
Account (FSA)

With Flexible Spending Accounts, employees and employers can contribute an amount of each paycheck (pretax) to pay for qualified out-of-pocket healthcare costs while also increasing their spendable income.

Health
Savings
Account(HSA)

Just like FSA, Health Savings Accounts allow business owners and employees with high-deductible health plans to cover their out-of-pocket expenses by setting aside pretax funds for qualified medical, dental, and other health expenses.

Health
Reimbursement
Arrangement (HRA)

HRAs are tax-advantaged health benefits plans that are funded by employers to help the workforce pay for medical expenses that are not covered by their health plans. It reimburses out-of-pocket health benefits expenses.

Dependent
Care
Account

Whether employees have children under 12 years of age or a disabled spouse, dependent care flexible accounts pay for eligible daycare with pretax dollars. Employees can keep aside the pretax amount for dependent child care or elder care expenses

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Kenz

Healthcare Benefits Accounts for Reduced Tax Liability

Health Savings Accounts (HSA) and Flexible Savings Accounts (FSA) allow employers and employees to make contributions before tax deductions. This pretax expense that is kept aside to cover various medical and healthcare plans can significantly reduce employees’ taxable income. So, connect with us for healthcare benefits and reduce FICA and FUTA taxes.

Features of Healthcare
Spending and Benefits Accounts

Our unified and automated HCM platform for healthcare benefits offers several benefits to users.

Pre-Tax
Contributions

As benefits accounts options are typically contributed with pretax dollars through payroll deductions, they are neither included in the gross income nor subjected to federal income tax.

Tax-Free
Earnings

Whether you earn interest or any other amount on the money in this account, it is completely tax-free. Also, withdrawals from these accounts are tax free if used for qualified medical expenses.

Enhanced
portability

No matter if you work for different employers, change your health insurance plans or retire, the money in HSA is always available for the future medical qualified expenses and you can choose how to use it.

Annual
Rollover

Any amount left in the HSA or other benefits accounts at the end of the year is rolled over to the next year. This allows employees a great deal of flexibility as there is no restriction on the amount.



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Our Client Speaks

Kenz is an excellent HR and benefits solution that simplifies our daily workforce management tasks

Erik Zak

USA

Managing teams with Kenz is easy as “zip, zap and done.” It has mind-blowing features for HR, payroll, and benefits administration.

Brett Knowles

Australia

Kenz lets us deliver a consumer-driven employee experience across the organization. It’s easy to set up and improves team collaboration and productivity greatly.

Jacob Smith

United Kingdom

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