Press Release: HSA Bank Debuts New Digital Experience to Assist Employers in Managing Benefit Account Programs
FOR IMMEDIATE RELEASE
October 6, 2022
Milwaukee, WI — HSA Bank, a division of Webster Bank, N.A., today announced the launch of its new employer digital experience, designed to better help employers manage employee benefit account programs.
Employers need easy access to data that will help them support their employees and enhance their ability to make better plan choices. Leveraging behavioral science, HSA Bank is pioneering new tools to help accomplish this aim. This cloud-native platform and open-source stack, provides data, key metrics, and tools right at human resource and benefit manager’s fingertips.
“Our goal has always been to provide a game-changing solution for employers managing health benefit accounts” said Jason Kessler, Senior Managing Director of Product Management. “We know that hiring and retaining talent is mission-critical, especially right now. The power of these new tools will help improve employer’s ability to drive employees to save and spend for a healthy future.”
Collaborating with customers and developing this new solution through ongoing feedback enabled HSA Bank to ensure this solution was customer and experience-first. Some of the new enhancements include the ability to compare program performance with de-identified peers, analysis of employee persona types for future benefits decision, (i.e., percentage of employees classified as spenders, savers, or investors based on contribution and distribution activity), contribution velocity and balance stratification.
The portal provides employers with increased confidence in their benefits strategy, intuitive access for key administrative tasks, a better understanding of employee information needs, an easy way to optimize plan designs and an increased understanding of their plan performance against peers.
This innovation signals the start to a line-up of enhancements planned for HSA Bank, “With the acquisition of Bend earlier this year and the HSA Bank legacy of driving outcomes for our clients and accountholders, we are boldly positioned to own this best-in-class experience and help millions of Americans wisely save for retirement,” Kessler added.
Employers can learn more about HSA Bank’s offerings here.
About HSA Bank:
At HSA Bank, we’re working toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, we make it simple for our over 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, we continue to innovate. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. As of June 30, 2022, HSA Bank had $11.1 billion in total footings comprising $7.8 billion in deposit balances and $3.3 billion in assets under administration through linked investment accounts and is a division of Webster Bank, N.A., Member FDIC Plan Administrative Services and Benefit Services are administered by Webster Servicing LLC. To learn more, visit hsabank.com.