Employee Benefits
Benefit Packages For Your Employees
ProFed offers a comprehensive range of employee benefits designed to help your company enhance its team's financial security. From Health Savings Accounts (HSAs) for tax-advantaged healthcare savings and Financial Wellness Workshops to educate employees on personal financial management, to IRAs for retirement planning and personalized investment guidance from ProFed Financial Advisors to help employees achieve their financial goals effectively, we can help you build the perfect employee benefits package. All of these benefits aim to support both the short-term financial health and long-term retirement security of your employees.
HSAs
High Deductible Health Plan (HDHP)? Take advantage of our Health Savings Accounts (HSAs) to save on healthcare expenses. With tax advantages on eligible expenses, your employees can better prepare for future healthcare costs.
Learn MoreFinancial Wellness
Enhance financial well-being and retention with in-person, hybrid, and online webinars to help your employees achieve stability, manage financial stress, and focus on their goals. Request a workshop for your business today!
Request WorkshopIRAs
Help your employees prepare for tomorrow with IRA options designed to build a secure financial future. We offer both Traditional and Roth IRAs.
Learn MoreFinancial Planning
ProFed Financial Advisors can help empower your workforce to make informed decisions and cultivate financial resilience. With knowledge and experience working with a wide range of investment options, our team can help reach those long-term goals.
Learn MoreHSAs
Our Hassle-Free Features Include:
- No minimum balance, no enrollment or maintenance fees
- Digital banking
- Employee contributions via payroll deduction pre-tax
- Check-writing flexibility
- Visa® Debit card with fee-free ATM access for easy reimbursement
Your Employees Are HSA Eligible If:
- Covered by a qualified High Deductible Health Plan (HDHP)
- Not covered under a non-HDHP
- Not enrolled in Medicare
- Not eligible to be claimed as a dependent on another individual's tax return
Benefits Of Employees' HSA Include:
- Tax savings & deferred
- Can be used for long-term care
- No penalty for withdrawals after 65+ (potential tax implications if the funds are used for non-qualified expenses)
- Can be used on medical-related purchases (Learn More)
- Even if they no longer are eligible to contribute to their HSA (changed job, employer changed health plan, etc.) those HSA funds are still theirs and can be used for qualified medical expenses until gone
Health Savings Account Rates
| Health Savings Accounts** | Dividend Rate (Compounded Monthly) | APY* (Compounded Monthly) |
|---|---|---|
| Up to $999.99 | 0.05% | 0.05% |
| $1,000 - $9,999.99 | 0.10% | 0.10% |
| $10,000 and Over | 0.25% | 0.25% |
Membership at ProFed is required. *APY = Annual Percentage Yield. **You must maintain a minimum daily balance of $125.00 to earn dividends.
Financial Planning
Portfolio Review
ProFed Credit Union members can call for a complimentary, no-obligation portfolio review.
Contact ProFed Financial AdvisorsInvestments
From mutual funds, stocks, and annuities, ProFed Financial Advisors can help apply these investments to your IRA, 403(b), retirement accounts and more.
Learn MoreFrequently Asked Questions
ProFed offers a variety of financial wellness benefits that can help employers support their workforce, including:
- Health Savings Accounts (HSAs)
- Financial Wellness Workshops
- Traditional and Roth IRAs
- Financial Planning Services
- Investment Guidance through ProFed Financial Advisors
These resources are designed to promote both short-term financial well-being and long-term financial security.
ProFed provides in-person, hybrid, and virtual financial wellness workshops that help employees better understand budgeting, saving, debt management, retirement planning, and other important financial topics. Financially confident employees may experience less stress and greater focus in the workplace.
A Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals enrolled in a qualifying High Deductible Health Plan (HDHP). Funds can be used for eligible healthcare expenses while offering valuable tax benefits.
HSAs can provide employees with:
- Tax-advantaged savings for healthcare expenses
- Pre-tax payroll contributions
- Long-term savings opportunities
- Funds that remain theirs even if they change jobs
- Convenient digital banking access and debit card access
These features can help employees better prepare for both current and future medical expenses.
Generally, employees may qualify for an HSA if they:
- Are enrolled in a qualified High Deductible Health Plan (HDHP)
- Are not covered by a non-HDHP plan
- Are not enrolled in Medicare
- Cannot be claimed as a dependent on someone else's tax return
Employees should consult a tax advisor regarding their specific eligibility.
Yes. HSA funds belong to the account owner. Even if an employee changes jobs, retires, or becomes ineligible to contribute in the future, the existing funds remain available for qualified medical expenses.
ProFed's HSA program includes features such as no minimum balance requirements and no enrollment or maintenance fees, helping employees maximize the value of their healthcare savings.
ProFed offers both Traditional and Roth IRA options to help employees save for retirement. These accounts can support long-term financial goals while providing tax advantages based on the account type selected.
Yes. ProFed Financial Advisors offer financial planning and investment guidance to help employees make informed decisions about retirement savings, investments, and long-term financial goals.
ProFed Financial Advisors can provide guidance on a variety of investment solutions, including:
- Mutual funds
- Stocks
- Annuities
- IRAs
- Retirement accounts
- Education savings strategies
Recommendations are tailored to individual financial goals and circumstances.
Yes. ProFed members have access to a complimentary, no-obligation portfolio review to help evaluate current investments and identify opportunities that align with their financial objectives.
Financial wellness benefits can help employees build confidence, manage financial stress, improve money management skills, and better prepare for future financial challenges. These programs may also contribute to higher employee satisfaction and retention.
Yes. Employers can request financial wellness workshops designed to address the needs of their workforce. Workshops can be delivered in person, virtually, or through hybrid formats for added flexibility.
ProFed offers a comprehensive approach to employee financial wellness by combining healthcare savings tools, retirement planning resources, financial education, and professional guidance. These benefits can help employees achieve greater financial security while adding value to an employer's overall benefits package.
Schedule an appointment with ProFed today to learn more about how you can get employee benefits for your workplace.