Connect benefits and savings

Couple reviewing their finances.

Connect your workplace benefits and savings

Have you ever thought about your workplace retirement plan during your open enrollment? Do you consider the potential impact your other benefits could have when you are choosing them? While all of these may be separate products with distinct goals, it can be useful to consider their potential impacts on your life both now and into the future.



Are you confused when you are selecting options at open enrollment?

Read on to learn more about the types of products and coverage that could be available to you through your employer.*


*Actual results may vary.



Image representing health care.

Health Savings Account

  • A pre-tax account that you can contribute to on a pre-tax basis and use to pay for eligible medical, dental and vision expenses while reducing your taxable income. You must have a high-deductible health plan to be eligible to contribute to an HSA.  
  • Your pre-tax dollars are not “use-it-or-lose-it.” Your balance carries over each year and can be invested once it reaches a certain amount.


  • Funds stay with you. Funds in your account stay with you, even if you change jobs. Funds that remain in the account continue to grow and accrue interest.
  • You can use it to invest. When your account reaches the threshhold indicated in your plan, you can invest in mutual funds, furthering the account growth potential to support your medical expense needs today and into retirement. 
    • Note that all investing involves risks of fluctuating prices and the uncertainties of return and yield inherent in investing. All security transactions involve substantial risk of loss.
  • Quickly and easily access funds. Use your debit card at the register for qualified purchases, or request to have funds directly deposited into your bank account through the website or mobile app.



Image of arrows representing flexibility.

Flexible Spending Account

  • Helps you manage current health care and childcare costs by enabling you to set aside pre-tax dollars to pay for health or dependent care throughout the year — such as prescriptions, contact lens and childcare — with one debit card.



These tax-advantaged accounts are available in three different types:

  1. Health FSA: Can help pay for qualified medical, dental and vision out-of-pocket healthcare expenses like co-pays, coinsurance, deductibles, prescriptions, glasses, vision correction surgery, dental and orthodontia services and more.
  2. Limited Purpose FSA: Similar to a Health FSA, this plan is limited to dental (including orthodontia) and vision expenses only. Enrollment in a Limited Purpose FSA is permitted for those enrolled in an HSA, whereas a Health FSA is not.
  3. Dependent Care FSA: Use for qualified expenses like daycare, before and after school care, or summer day camps for your tax dependents under age 13, as well as care for tax dependents of any age with special needs (such as those needing adult day care services).


Health Account Solutions, including Health Savings Accounts, Flexible Spending Accounts, Commuter Benefits, Health Reimbursement Arrangements, and COBRA Administration offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC). HSA custodial services provided by Voya Institutional Trust Company.  For all other products, administration services provided in part by WEX Health, Inc.  

This highlights some of the benefits of these accounts. If there is a discrepancy between this material and the plan documents, the plan documents will govern. Subject to any applicable agreements, Voya and WEX Health, Inc. reserve the right to amend or modify the services at any time.

The amount saved in taxes will vary depending on the amount set aside in the account, annual earnings, whether or not Social Security taxes are paid, the number of exemptions and deductions claimed, tax bracket and state and local tax regulations. Check with a tax advisor for information on whether your participation will affect tax savings. None of the information provided should be considered tax or legal advice.

Investments are not FDIC Insured, are not guaranteed by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC), and may lose value. All investing involves risks of fluctuating prices and the uncertainties of return and yield inherent in investing. All security transactions involve substantial risk of loss.



An older woman in a hospital bed talking with her nurse.

Critical Illness Insurance

  • Critical Illness1 insurance pays a lump-sum benefit upon the diagnosis of a covered disease or condition such as a heart attack or stroke on or after the coverage effective date.
  • A cost-effective way to lessen the financial impact of a covered illness.


  • Benefits can be used for any purpose: Benefit can be used for out-of-pocket medical and other expenses, including copays, deductibles, groceries, gas, utilities and more.
  • Portable:  Take your coverage with you if you leave your employer or retire and pay the insurance company directly.  


1. Critical Illness may be referred to as Specified Disease in some states. 



Young boy drawing on a piece of paper, with a broken arm.

Accident Insurance

  • Pays benefits for specific injuries and events resulting from a covered accident.
  • Coverage can complement a high-deductible health plan.


  • Offers benefits that can be used as you see fit: You can use benefit dollars however you choose — to help pay for everyday expenses like groceries, gas, utilities and more.
  • Lessens impact of out-of-pocket expenses: Accident Insurance can help with out of pocket expenses such as deductibles and co-pays or co-insurance.  
  • Portable:  You can take your coverage with you if you leave your employer or retire and pay the insurance company directly.  



An older man in a hospital bed looking at his wife.

Hospital Indemnity Insurance

  • Get a daily benefit if you have an eligible stay in a covered medical facility.
  • Take your coverage with you if you leave your employer or retire and pay the insurance company directly.  


  • Provides a fixed daily benefit for a covered confinement: You can use your paid benefits however you choose — including everyday expenses like gas and groceries.
  • Lessens impact of out-of-pocket expenses: As deductibles, co-pays and co-insurance costs rise, you may be worried about increasing out-of-pocket costs. This coverage can help.


Accident, Critical Illness and Hospital Confinement Indemnity Insurance are limited benefit policies.  This is not health insurance and does not satisfy the requirement of minimum essential coverage under the Affordable Care Act.  

Insurance products are issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Product availability and specific provisions may vary by state.

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