What is an Emergency Savings Account (ESA)?

An ESA is a consumer-owned bank account that uses dollars specifically set aside for unplanned expenses or financial emergencies. It can be integrated with payroll deductions so employees can make deposits without even thinking about it.


Since an ESA is a non-ERISA plan, it can be added at any time throughout the plan year and can be made available to all employees regardless of number of hours worked or enrollment in other benefits. Additionally, employers can make post-tax contributions to Emergency Savings Accounts providing an incentive for their employees to engage in their account.

Why offer an ESA?

American workers are struggling financially and many employers are looking for a solution to help their employees’ finances in the short and long term.

  • Credit card debt has reached $1.05 trillion (NerdWallet)
  • Savings rates have plummeted, reaching a low of 3.1% in 2022 (Statista)
  • 401(k) hardship withdrawals hit an all-time high (CNBC)
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How it works

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Employers can manage the program using a simple census file you either submit online or via SFTP.

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Employees get an invitation and can complete enrollment online in less than two minutes.

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Employees can utilize seamless payroll integration providing automated post-tax savings.

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Employers can offer optional incentives like signup, matching and/or milestone bonuses.

Get started

Complete the form and we’ll have someone reach out to provide more information on how to add Emergency Savings Accounts to your benefit plan. Or, if you have a dedicated HSA Bank account manager, you can contact them directly.