Alegeus to Launch Modern HSA Investment Solution
Published on June 9th, 2021
Waltham, Mass. — Alegeus, the market leader in consumer funding solutions, today announced it will launch its modern HSA investment solution at the 2021 Alegeus Client Success Summit, June 15-16, 2021. An extension of the Alegeus HSA experience, the investment solution goes beyond anything currently available from an HSA provider, with features like real-time and fractional trading, a fully automated robo advisor, and a full range of investing models for every investor experience level.
HSAs are designed to be saving vehicles, yet most consumers today use them as spending accounts and are not disciplined about saving for the future,” said Mark Waterstraat, chief customer officer at Alegeus. “This new modern investment experience, coupled with other capabilities like our high-yield banking model, will empower consumers to achieve financial wellness, supporting them through all phases of their healthcare journey – spending, saving and investing.
Built by a deeply knowledgeable HSA and investment product team – and powered by DriveWealth, a global leader for API-driven, cloud-based brokerage infrastructure – the Alegeus investment solution builds on the company’s Smart Account strategy, with an impressive modern investment stack:
- Fully embedded investment experience (available on both mobile and desktop) that is native to the Alegeus platform and does not require redirecting consumers to a partner site
- Simple, intuitive interface akin to other modern investment tools on the market
- Three distinct investing models – managed (robo advisor), self-directed and brokerage – for a tailored investment experience that meets the consumer where they are
- Exchange-traded funds (ETFs) that give consumers lower costs and diversified market return
- Fractional trading up to 8 decimal points, providing microshare access (as little as $.005, for example) to high-value stocks like Berkshire Hathaway Class A, which currently trades around $440,000 a share
- Convenient features, such as auto-rebalancing, real-time account opening and trading, and historical performance of available funds
Consumers receive alerts when eligible to invest, and they can open an investment account immediately, moving funds back and forth in real time. Within the Alegeus portal and mobile app, consumers gain full transparency into assets and allocations, and real-time insights as fund values change throughout the day. Ongoing Smart Account guidance proactively offers recommendations as balances grow, allowing for greater account engagement, satisfaction and retention.
We’re proud to disrupt the HSA market with a true health and wealth experience that will serve as a differentiator for our clients in an increasingly competitive space,” Waterstraat said. “This new investment solution is one part of a broader series of HSA enhancements that will allow our clients to compete in the market with a value-differentiated, best-in-class HSA solution.
Alegeus clients have already begun to recognize the new investment experience as the game-changer it is for brokers, employers and the 75M+ commercially insured Americans that have access to the Alegeus HSA.
There’s only one thing you can say about this new investment experience, and that is ‘Wow!’” said Bob Davis, president of Rocky Mountain Reserve. “We believe this gives us an incredibly differentiated HSA offering – something that is a step above any other solution out there. The market for HSAs is incredibly competitive, and this gives us the capabilities to compete with anyone, including the big-name national HSA-focused banks and investment providers.
To get a first look at the Alegeus investment solution, register here for the 2021 Alegeus Client Success Summit.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 2-3X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.