Employees - LaneHealth

The Card with a Heart_™^¹ featuring the HSA Advance^² line of credit

One card for all your Tax-advantaged Spending Accounts and access to our innovative Advance line of credit.

Now you can choose a health plan with a lower premium—and built-in rainy-day protections. There’s no requirement to tie up cash in savings. No need to struggle under the weight of your medical bills. Instead, activate on-demand, swipe-and-go access to your Advance Line of Credit, with no credit check.

You’ll get funds instantly—when you need them up to your Advance limit. Then, you can pay it back with pre-tax dollars, over 12 full months or less. This can save you money and reduce the stress of managing out-of-pocket medical expenses.

Getting started is easy and funds are there
when you need them

Seamless enrollment

Simple application, no credit check. Our HSA Advance provides you additional financial protection, even if you don’t fund your HSA account.

Pre-set Advance limit

We’ll tell you right up front how much you can access through your Advance.

No cost if you don’t use

Payroll deductions are only required if, and when, you use your Advance.

Instant access

Don’t forego or delay health care because you are worried about how you’ll pay. Just swipe your Card with a Heart, at any time during the year.

It’s a predictable, practical way to pay your
medical expenses.

Substantial savings

By spending and paying back with pre-tax dollars you’ll save as much as 20-30% in taxes (depending on your tax status) vs. paying with out-of-pocket money.

Low costs

Our Advance fees are very competitive when compared to credit cards. And you pay our fees pre-tax, making them even more attractive.

Predictable payments

If you take an Advance, you’ll pay it back via payroll deductions over 12 months or less — no checks to write or bills to pay.

A full 12 months to pay

December, January or any time in between, the clock starts when you take an Advance—and your pre-tax payroll deductions will be spread out over a full 12 months or less on smaller balances.

HSA Overview

Open an HSA with Lane Health to access tax-free savings!

A Health Savings Account (HSA) is a tool that allows members to contribute pre-tax dollars for out of pocket medical expenses. Funds contributed to an HSA are triple-tax-advantaged. These funds accrue in your account and can be used for any eligible medical expenses at any time. For 2022, IRS-defined HSA annual contributions may not exceed $3,650 for individuals or $7,300 for families (those limits will increase to $3,850 and $7,750 in 2023). Individuals aged 55 and over may make an additional $1,000 annual catch-up contribution.

Money is placed into your account using pre tax dollars allowing qualified health insurance members to save up to 20-30% on their federal income tax!

With Lane Health’s HSA, simply swipe your Lane Health Card with a Heart to access your HSA funds to pay for qualified medical, dental, or vision expenses. Rather than paying cash, using a credit card or taking out a loan, activate your Advance line of credit. Then simply swipe your Lane Health Card with a Heart when you go to the doctor, pharmacy or hospital. If you don’t have enough money in your Health Savings Account (HSA), funds will be advanced to you. You have up to 12 months to pay it back (along with associated fees) with pre-tax dollars. Lane Health makes it easier for your healthcare costs to be predictable, manageable and affordable.

How a Health Savings Account (HSA) works

Select a High Deductible
Health Plan

During your employer’s Open Enrollment period, review your health plans and the insurance coverage and if viable, select a High Deductible Health Plan. With Lane Health, we’ll automatically enroll you into your Health Savings Account (HSA) that pairs with your health insurance. Once you have your HSA, you’re able to make an annual election of $3,650 for an individual or $7,300 for a family. Individuals aged 55 and over may make an additional $1,000 catch-up contribution. Some employers will elect to contribute to an HSA for you, all with pre-tax dollars!

Contribute
Your HSA

During the year, your employer will take out your annual election contributions through pre-tax payroll deductions. For example, if you elect a contribution of $2,600 dollars and you’re paid every two weeks, you will see a deduction of $100 dollars per paycheck. This money is:

Deposited in your HSA tax-free,
Grows through investments tax-free, and
When paying for qualified medical expenses, it will spend tax-free.

In fact, an HSA is the only savings account with the triple-tax-advantaged features.

Use Your
Card with a Heart

Once your HSA is up and running with Lane Health, you’re free to use your Lane Health Card with a Heart to pay for qualified medical expenses. Save on your taxes when you contribute, then swipe your Card with a Heart whenever you have an eligible medical expense. You can also invest your HSA contributions. Once your HSA cash account balance reaches $1,000, you can transfer funds to an HSA investment account. You can choose from a wide selection of mutual funds. You’ll see a cash account and an investment account in your HSA portal and have the ability to transfer HSA funds back and forth if needed.

How can an HSA Advance Line of Credit benefit you?

The Lane Health HSA provides a new source of financial protection and bill paying capacity for your healthcare expenses.

With most HSAs, you can only pay medical bills with money you’ve contributed and saved. With Lane Health’s Advance line of credit, you can pay bills with pre-tax dollars, with 12 months to repay your Advances from the time they are incurred.

          Here’s how it works.
Based primarily on length of employment, we determine a line of credit for you (minimum $500).
After activating the Advance line of credit, you can simply swipe your Card with a Heart to pay  qualified medical expenses.
Any cash in your HSA is used first to pay a bill.  If more is needed, funds are automatically provided up to your line of credit.
We’ll then inform you of the amount of the pre-tax HSA payroll deductions required to repay the Advance over the following 12 months.

Advance Line of Credit Fees.You pay two fees (no interest) when using the Advance line of credit.  The first is an Origination Fee equal to 5% of the Advance amount, which you typically pay in the first paycheck after receiving the Advance. The other fee is the Periodic Finance Fee which is paid four times over a twelve-month period and depends on your average balance over the 75 days prior to it being assessed (see table). Both fees are paid through pre-tax payroll deductions.

Average balance
over prior 75 days
 
Periodic
Finance Fee

$1 to $100
 
$2

$101 to $250
 
$5

$251 to $500
 
$10

$501 to $1,000
 
$20

$1,001 to $2,500
 
$40

$2,501 to $5,000
 
$75

Greater than $5,000
 
$95

Introducing the Lane Health

Card with a Heart

Keep more of your paycheck — and gain peace of mind