Health Savings Account and Flexible Spending Account Administration

The Arizona Department of Administration Master Agreement CTR078138 provides a comprehensive Indefinite Delivery Vehicle for Health Savings Account (HSA) and Flexible Spending Account (FSA) administration services. The IDV enables state agencies and potentially other eligible entities to access specialized financial health management solutions, with a focus on account administration, claims processing, and customer service support. Key services include HSA and FSA account management, online investment educational seminars, and streamlined account transition processes, designed to optimize employee benefits administration and financial wellness programs.

The master agreement is awarded to Inspira Financial Health Inc. and will operate from August 18, 2025, through December 31, 2030, covering the state of Arizona. The contract is structured as a zero-cost administrative service with performance guarantees, including stringent service level agreements that mandate metrics such as 98% claims processing accuracy, less than 5% call abandonment rate, and 90-95% customer satisfaction rates. The total contract includes $250,000 in annual allowances distributed over five years, with potential coverage for approximately 11,900 HSA participants and provisions for bulk account transfers during the initial contract period.