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Voya Adds Benefit Account Program

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Voya Financial Inc. has introduced a family of Voya account programs aimed at the employee benefits market.

Voya will start by offering a health savings account (HSA), a health flexible spending account (FSA), a limited-purpose FSA, a dependent care FSA and a commuter benefit account.

(Related: HSA Bank Reports Strong Account and Revenue Growth)

Voya will also offer a website and a mobile app that an employee can use to manage any account in the Voya benefits account family, along with a debit card that can be used to spend funds stored in all of an employee’s Voya benefit accounts.

The HSA will come with access to an active investment option for HSA account holders with $2,000 or more in HSA assets.

Voya is offering the accounts through its New York-based Voya Benefits Company LLC unit.

WEX Health Inc. — the company formerly known as Evolution1 Inc. — will be the administrator.

— Read Fidelity Joins Health Insurer Group, on ThinkAdvisor.

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