Hunt Valley, MD (PRWEB) June 18, 2013
ConnectYourCare, one of the nation’s largest HSA administrators and a recognized industry expert in FSA, HRA, and Retirement benefit account administration is announcing its fully integrated HSA Investment Center, a product that improves the investment experience and helps drive employee adoption of Health Savings Accounts (HSAs) and their corresponding High Deductible Health Plans (HDHPs).
ConnectYourCare’s innovative HSA Investment Center solution offers participants the convenience of managing their HSA investments within their current healthcare savings account portal. This one-stop approach allows participants to enroll, research fund options, review investment account balances and make secure, online transactions in addition to submitting healthcare reimbursement claims and managing other healthcare savings accounts.
HSAs are among the fastest growing consumer-directed healthcare options for employers looking to control escalating costs. Participants benefit from the triple-tax savings of an HSA. Contributions are pre-tax whether they are made by the participant or the employer, investment growth is not taxed as long as it remains in the account, and distributions are not taxed as long as they are used for qualified medical expenses.
“We already offer the most flexible and configurable platform on the market to help customers achieve benefits strategy goals,” said Jamie Spriggs, CEO of ConnectYourCare. “Our HSA Investment Center’s integrated approach is yet another way to make it easier for our customers to simply and easily manage their investments.”
As medical costs continue to soar, Americans are realizing the power of using Health Savings Accounts (HSAs) and their numbers are on the rise. According to industry expert Devenir’s 2012 Year-End HSA Market Trend and Statistics Report, in 2012 HSA accounts rose to nearly 8.2 million with assets totaling nearly $15.5 billion. Trend reports show these numbers steadily rising.
ConnectYourCare's consumer-directed healthcare platform provides a fast path to account-based health plans, enabling firms to lower health benefit costs while empowering consumers with the tools they need to better manage health savings. The solution of choice for large employers, health plans and banks, ConnectYourCare offers a fresh approach to health savings by combining a simplified experience, seamless access and a unique coaching model to accelerate savings and consumer engagement. By removing complexity and motivating individuals to take control of health savings, ConnectYourCare maximizes return on investment for all participants in the healthcare benefits value chain and enables everyone to simplify, save and grow.