HSA Depository/Trust Processing
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Healthcare expenses in the United States are among the highest in the world – and
they continue to grow. This exponential rise in healthcare costs is driving a shift
of responsibility for healthcare from the employer to the employee. Thus, the Consumer
Driven Healthcare (CDH) movement was born.
The CDH premise is simple: if consumers are more aware of healthcare costs, and
given real incentives to control those costs, then they will change their behaviors
and overall healthcare costs will decrease. Health savings accounts (HSAs) have
emerged as perhaps the most compelling CDH financial account – and HSA adoption
is projected to grow rapidly over the next several years.
HSA programs can help your organization expand its reach into the healthcare market,
increase deposits, generate fee and interchange revenue, and strengthen and grow
customer relationships. With our integrated DDA and investment platform, Metavante
provides the technology backbone to support both retail and employer-sponsored HSA
programs, including:
- Recordkeeping and transaction processing
- Automated account creation for large volume enrollment
- Online enrollment
- Fully outsourced HSA servicing - call center, investment options, education
- Regulatory reporting
- Multi-channel access (HSA debit card, Web, call center)
- Trust account processing for HSA investment services (mutual funds and other qualified
investment options)
- Service charge and interest flexibility
- Branded self-service Web site with bill pay
- Program support, including education and marketing materials
However, a strong technology foundation is only the beginning. You also need a clear
go-to-market strategy and sophisticated education and decision-support tools to
drive HSA account adoption and empower individuals to take control of their healthcare
situation.
With a solid technological foundation and value-added tools such as the WealthCare
Portal, Metavante can help you build a successful HSA program.