How does an HSA compare to a HAWP?

Here are some guidelines to help you guide your clients to the health plan best suited to their needs:

• An HSA is administered by GBL and GBL handles ongoing claim adjudication. A HAWP is self-administered by an appointed person within your client’s business.
• An HSA has an ongoing pay-for-use service agreement with GBL, whereas there is a one time set up fee for an HAWP.
• HSA claims are paperless. Your client and employees will submit claims using the myHSA online portal or the myHSA app. HAWP claims are handled through the employer, with the employee attaching receipts to a form provided by GBL during the one time set-up.
• HSA claims are direct deposited into the employee’s bank account. HAWP claims are paid out through the HAWP bank account managed by the corporation.