Enhancing employee financial wellness through greater HSA cash flexibility

Feb 13, 2026

In a benefits landscape where health care costs and financial stress compete for attention, employers and employee benefit professionals may be looking for solutions that do more than check boxes. They likely desire offerings that can help engage employees, improve outcomes, and differentiate their plans. With our new cash account option, Voya’s Health Savings Accounts (HSA) deliver exactly that: a modern, flexible way that offers new potential to grow HSA cash balances (non-invested funds) while simplifying administration and education.

The funds in a Voya HSA are kept in what’s called a cash account. With two cash account options, HSA participants can now choose the one that aligns with their goals and risk preferences:

Bank Deposit Program

  • Cash funds are automatically placed into the Bank Deposit Program and there is no action needed to elect this option. The Bank Deposit Program generally offers less competitive interest rates but is FDIC insured and designed for those who prioritize bank-backed stability at standard interest rates.
  • Amounts held through the Bank Deposit Program are deposited at one or more of the banks as set forth on the Voya HSA Program Bank List (available on the Health Account Solutions portal or download the PDF.)

Voya Interest Program

  • A new option is now available called the Voya Interest Program. This option can offer more competitive interest rates but is not FDIC insured, is not a deposit and may lose cash value. The interest rate guarantees under the contract are subject to the claims-paying ability of the Voya Retirement Insurance and Annuity Company. This option must be specifically elected through the Health Account Solutions portal.

Participants can view tiered rates and change their cash election at any time in the Voya Health Account Solutions consumer portal — keeping control and transparency squarely in their hands.

Why it matters

Giving employees a choice between bank-backed stability and potential for higher interest rates is intended to encourage engagement and help improve savings behavior without adding complexity to your administration. HSAs already offer triple tax advantages for employees. And now, HSA participants have the potential to see more competitive interest rates through the Voya Interest Program.

Check out our employee-centric HSA design

Voya’s HSA consumer portal makes it easy for employees to manage contributions, payments, and investments in one intuitive portal and mobile app. For eligible accounts, automatic sweeps and investment options (investing is available once the account balance reaches a designated threshold) are available and offer the potential for participants to further grow their balance. We offer flexible administration and strong service. Employers and brokers get streamlined reporting, dedicated support, and plan design flexibility.

The bigger picture: HSAs that bridge health and wealth

HSAs can help close the health wealth gap by allowing pre tax contributions for eligible medical expenses while also supporting long term savings and investment opportunities, especially when paired with strong education and program design.

Offering an HSA with two cash account options is one way for employers and benefits professionals to help employees build their savings in the way that works best for them.

Ready to learn more?

Orange icon of HSA on a magnifying glass

Discover how the Voya Interest Program can help your employees make the most of their health savings. Contact a Voya Representative today to learn more or visit our HSA landing page on voya.com. 
 

As with any investment, there are risks; accountholders should make sure to fully explore those risks before choosing to invest their balance.


 

Related Items

Health Savings Accounts offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC). Custodial services provided by Voya Institutional Trust Company.

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 its subcontractors 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.

Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union | May Lose Value | Not Bank/Credit Union Guaranteed | Not Insured by Any Federal Government Agency 

Amounts held through the Voya HSA’s Deposit Program are deposited at one or more of the banks as set forth on the Voya HSA Program Bank List available on your Voya Health Account Solutions portal or at this link. Once deposited with a Program Bank, the cash balance of the deposit will be eligible for FDIC insurance coverage up to applicable limits. Under the Deposit Program, the HSA custodian, Voya Institutional Trust Company, has engaged sub-custodians and agents to provide for the placement of Deposit Program deposits with the Program Banks. 

The Voya Fixed Account B is the underlying fund of the Voya Interest Program. The Voya Fixed Account B guarantees principal, and interest rates are subject to change. The Voya Fixed Account B is available through an annuity contract issued by Voya Retirement Insurance and Annuity Company (“VRIAC”). The Voya Fixed Account B is an obligation of VRIAC’s general account which supports all of the company’s insurance and annuity commitments. The interest rate guarantees under the contract are subject to VRIAC’s claims-paying ability. The Voya Interest Program option is not FDIC Insured, is not a deposit, and may lose value. Check your Health Account Solutions customer portal for up-to-date rate information. 

Mutual fund investment option advisory services are provided by Voya Investment Management, an independent investment advisor and it’s affiliated FINRA-registered distributing broker-dealer, Voya Investment Distributors, LLC, 230 Park Ave., New York, NY 10169. Shares are offered through Charles Schwab & Co., Inc., a registered broker-dealer. Charles Schwab & Co., Inc., is not a member of the Voya® family of companies.

You should consider the investment objectives, risks and charges, and expenses of the funds carefully before investing. The prospectus contains this and other information. To obtain a copy of the fund prospectuses, call 833-232-4673. Please read the prospectus carefully before investing. 

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