Health savings accounts (HSAs) represent a tremendous opportunity for financial institutions to grow deposits, fee income, interest and interchange revenue – while strengthening and growing customer relationships. But, HSAs are not just another deposit account.
HSAs are complex and have unique requirements with respect to enrollment, account funding, account holder education and engagement, and more
Lack of familiarity with the healthcare/benefits market can hinder strategic planning, product strategy, marketing and sales success
Many financial institutions have struggled to gain traction with HSA programs due to operational challenges, platform limitations, sub-optimal revenue models, or difficultly navigating existing insurance and health benefit sales and distribution channels
As HSAs are staged for rapid market growth, financial institutions must fully embrace this opportunity now or risk disintermediation – dabbling is not a winning strategy
A solution built specifically for the unique needs of HSAs
When designed, executed and supported properly, HSAs can yield tremendous revenue and profitability for financial institutions
A custodial platform tailor-made for HSAs. Increase operational efficiency with a recordkeeping solution built specifically for the unique needs of HSAs and financial institutions – including specialized support for managing account enrollment and funding, employer group affiliations, service fee charging, and more.
Gain access to new HSA distribution channels. Integrate once to the Alegeus platform and your institution’s HSA can be available to all Alegeus clients as a custodial option for their HSA offerings – including more than 300 leading health plan, third party administrators and benefit brokers, with access to nearly 23 million consumers.
Powerful consumer engagement tools, tailored to your brand. HSAs have unique requirements with respect to accountholder education and engagement. Ensure a truly excellent accountholder experience with powerful decision-support tools and self-service features, delivered through a multi-channel approach – and with every touch point customized to your brand specifications.
A complete benefit account solution offers expanded market potential. Take advantage of the complete Alegeus benefit account platform to broaden your market opportunity beyond just HSAs, to include other consumer healthcare accounts (such as FSAs and HRAs). Beyond technology, outsourced employer administration and consumer support services offer ultimate product flexibility.
Deliver a single experience, not just single sign on. Flexible integration capabilities complement an array of client strategies, allowing data to be pulled into your ecosystem to create a single client experience – not just a single sign on.
Interactive analytics & turnkey marketing drive business growth. Interactive tools allow you to mine your data to uncover strategic insights and deploy turnkey marketing programs and incentives to influence favorable behaviors and deliver more personalized support for spending and saving moments.