Broker’s HSA Guide: Build Your Book of Business

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Can you rattle HSA eligibility requirements off the top of your head—or are you just learning the fundamentals? Either way, our 3rd annual HSA guide has the information you need to build your book of business.

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An HSA is Part of A Balanced Benefits Mix

Premium costs are rising faster than the inflation rate, and the average family health plan premium has increased a shocking 55% since 2010. Commonly, employer-sponsored health plan premiums share the cost between the employer and employee, but it’s well-known that employers shoulder a larger percentage of those costs. Employer contributions towards the average single and family coverage have increased 39% over the past decade.

These are not figures to take lightly. As you know, they contribute to significant financial pressures placed on businesses and households across the United States. And that was pre-pandemic.

In 2020, businesses and households felt increased financial pressures and increased uncertainty. Employers are continuing to look for ways to cut costs while providing the same, or better, level of benefits—while employees are becoming more critical of their employer’s health and financial wellness offerings.

Enter the Health Savings Account (HSA). Clients will find that an HSA boosts their benefits offerings while lowering their bottom-line. Employees will appreciate the HSA’s unparalleled triple-tax advantages and the ability to build their healthcare safety net. If they haven’t already—your clients will learn that an HSA is one of the smartest and most efficient ways to manage their business’ healthcare costs while improving benefits satisfaction for all.

Download the Broker’s HSA Guide to access the information you need to build your book of business.

Be Prepared for Continued HSA Growth

KFF’s 2020 Employer Health Benefits Survey and Devenir’s 2020 Midyear report paint a clear picture: enrollment in HSA-eligible health plans and HSAs are on the rise.

The number of employees enrolled in an HSA-eligible health plan has increased by 60% over the past five years, from 15% in 2015 to 24% in 2020. It’s expected that this trend will accelerate over the next several years as healthcare costs continue to rise and employers continue to seek ways to trim benefits costs while employees search for ways to reduce healthcare costs. With the increased awareness will come greater HSA demand and adoption.

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Since 2011, HSA enrollment has grown more than 365%. Between June 2019 and 2020, HSA accounts grew nearly 12%, and year-over-year assets grew 19%, resulting in 29.3 million total accounts and $73.5 billion in total assets. HSAs are increasingly more critical to your clients and their employees, and we anticipate a surge in HSA demand post-COVID. As your clients begin discussing their benefits mix for 2022, our HSA guide will be an indispensable resource.

The 2021 HSA Guide Helps Build Your Book of Business

Whether you can rattle HSA eligibility requirements off the top of your head—or you’re just learning the fundamentals, our 3rd annual HSA guide has the information you need to continue building your book of business. More robust than ever, this year’s guide includes in-depth HSA industry market trends and data, plus comprehensive regulatory changes that have emerged since COVID-19.

The 2021 Broker’s HSA Guide provides just the right amount of information, without overwhelming. Inside the guide, you’ll find:

  • The essential HSA overview
  • How clients and employees benefit
  • HSA eligibility requirements
  • How an HSA works
  • What to look for in an HSA provider
  • A glossary of healthcare and HSA terms
  • The top employee HSA questions, answered

Download our guide to gain access to HSA industry market trends, plus regulatory changes that have emerged since COVID-19.

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Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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