Bring more value to your employee benefits package.
Alerus provides the administrative expertise and responsive support to help you offer benefit accounts that work for your organization and your employees.
Our services
Open Architecture Platform
Our open architecture HSA platform provides access to a broad selection of mutual funds, giving employers and their advisors flexibility when building an investment lineup.
- 16,000 mutual funds available
- Advisor fee structure available
- Fund lineup must mirror the 401(k) or retirement plan lineup
- Standard investment threshold: $2,000
- Fund changes available
Benefits Plan Administration
Alerus helps simplify benefit administration for employers while providing participants with the tools and support they need to make the most of their benefits.
- Health Savings Account (HSA)
- Flexible Spending Account (FSA)
- Lifestyle Spending Account (LSA)
- Health Reimbursement Arrangement (HRA)
- Individual Coverage Health Reimbursement Arrangement (ICHRA)
What you will get:
- Plan design
- Plan document services
- Plan communication
- Enrollment services
- Payroll integration
- Claims adjudication/processing
- Participant debit cards
- Annual compliance testing
- Employer and employee websites
- Plan summary reports
- Year-end tax reporting
- Modern mobile app
- Dedicated, responsive HR support
- Fast, friendly and knowledgeable participant support
Frequently Asked Questions
What is a health savings account (HSA)?
An HSA is a savings account that allows employees to set aside pre-tax money to pay for qualified medical expenses. HSAs can help lower out-of-pocket healthcare costs by using untaxed dollars to pay for deductibles, copayments, coinsurance, and more. HSA funds can be used at any time, and the balance in the account grows tax-free.
What are the benefits of providing an HSA to employees?
Employers can benefit from HSAs in several ways, including lower payroll taxes, income tax deductions, reduced premiums, and higher retention rates.
What is a flexible spending account (FSA)?
An FSA is a benefit that allows employees to set aside pre-tax money from their paycheck to pay for certain health and dependent care expenses. FSA funds are not taxed, so employees save an amount equal to the taxes they would have paid on the money set aside.
What are the benefits of providing an FSA to employees?
FSAs can benefit employers in several way, including tax savings, healthcare coverage enhancement, control over the plan, and attracting/retaining talent.
What is a lifestyle spending account (LSA)?
An LSA is an employer-funded benefit that gives employees post-tax money to spend on expenses related to their lifestyle. Employers can customize LSAs to include a variety of eligible spending categories, such as wellness, fitness, childcare, and more.
What is a health reimbursement account (HRA)?
An HRA is a group health plan employers fund and own that provides tax-free reimbursements to employees for qualified medical expenses.
