Employee Benefits
401(h) Retiree Health Accounts
BPAS takes the complexity out of 401(h) account management–helping you plan smarter, support employees, and simplify administration.
What We Do
What 401(h) services does BPAS provide?
Healthcare costs in retirement can be stressful for both employers and employees. BPAS 401(h) plans provide an easy, streamlined way to manage these expenses. With expert guidance, secure technology, and hands-on support, we help organizations run their plans smoothly while giving employees confidence in their healthcare future.
Our 401(h) services include:
- Plan Design & Implementation: Tailored strategies that fit your organization’s goals.
- Fiduciary & Compliance Support: Ongoing oversight and audit-ready reporting to keep you compliant.
- Trust & Custodial Services: Safe and secure management of plan assets.
- Claims & Reimbursements: Fast, hassle-free payments via debit card, mobile app, or direct deposit.
- Investment & Participant Tools: Flexible fund options and educational resources to guide participants.
- Technology Integration: Easy-to-use portals with real-time reporting for employers and participants.
Who Benefits
Who benefits from a BPAS 401(h) plan?
Employers
With automated onboarding, audit-ready reporting, and direct participant support our 401(h) plans help employers save time by making healthcare benefits simple and efficient.
Employees
From convenient, accessible healthcare funding with fast reimbursements, to 24/7 online account access, tax-free savings, and educational tools–employees have all the tools they need to help them plan for future medical costs with confidence.
Why Choose Us
Why are BPAS 401(h) plans different?
BPAS combines practical expertise with personalized service and decades of experience. We make managing 401(h) plans straightforward, reliable, and stress-free for both employers and employees.
Ready to get started?
Reach out to one of our representatives today at 1-866-401-5272 or email [email protected].
Frequently Asked Questions
A 401(h) is a retiree medical benefit account that is set up within a defined benefit or money purchase pension plan to provide for the payment of benefits for qualified medical expenses (as defined by IRS code) for retired employees, their spouses and dependents. It functions like a claims reimbursement account for medical related expenses.
Depending on the terms of the plan set by your employer, a 401(h) account can receive employer and/or employee contributions. They may also be eligible to receive transfers of excess pension benefits, provided certain requirements are met. 401(h) account contributions are tax deductible; earnings are tax-deferred; and distributions may be tax free when used for qualified expenses.
401(h) account contributions are tax deductible; and distributions (and earnings) can be tax free if used for qualified expenses.
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