Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Survey Uncovers Different Health Savings Account Personalities
  • USA - English

HealthSavings Administrators Finds Important Variations Based on Demographic, Psychographic and Behavioral Influences


News provided by

HealthSavings

Aug 06, 2020, 09:00 ET

Share this article

Share toX

Share this article

Share toX

RICHMOND, Va., Aug. 6, 2020 /PRNewswire-PRWeb/ -- HealthSavings Administrators, a top health savings account (HSA) provider, today revealed important differences in HSA understanding and usage trends. Based on responses from more than 5,000 accountholders, HealthSavings found variations by demographic, psychographic and behavioral groups and has now created custom communications to address each persona's top needs.

"Numerous studies show that HSAs are widely misunderstood. We offer an innovative, targeted approach that educates and supports our customers to help them meet their goals for health and financial wellness, now and in the future," said Alison Moore, vice president of marketing at HealthSavings.

Using extensive behavioral and transaction data along with direct input from accountholders, HealthSavings offers six common behavior-based persona options. Accountholders can choose which persona most closely matches them and their needs. All supporting communications and educational resources from that point on are tailored to them. "It's a unique approach that improves HSA knowledge and transcends the industry's 'one-size-fits-all' approach to HSAs," continued Moore.

The primary HSA personas and associated findings include:

The Planner – This is the largest category with 39 percent of accountholders opting in as Planners. They are focused on investing their HSA to save for retirement and estate planning as all are very comfortable managing investments. With the majority of this group in the 45-65 age bracket, most are enrolled in family medical coverage and make more than $100,000 per year. They cite retirement readiness as their biggest financial priority.

The Harvester – 25 percent are retired or nearing retirement and now want to get the most out of their HSA. As most are over 65 years old, they are already very or somewhat comfortable managing investments. They expect their income to stay the same or decrease, and some are managing a chronic illness.

The Provider – 14 percent use their HSA to pay for some doctor's visits and medical expenses but also consider HSAs a long-term retirement savings vehicle. Unlike the other personas above, an overwhelming majority of Providers is somewhat or very comfortable investing. More than half of Providers are also on family medical coverage, which means they have higher HSA contribution limits.

The Budgeter – 9 percent of opted-in accountholders use their HSA strictly to pay for day-to-day medical expenses. They do not feel comfortable managing investments and instead rely on their HSA for short-term spending and/or saving. The key difference for this group when compared to the Newcomer is that paying bills is their biggest financial priority and most have children.

The Newcomer – 8 percent of accountholders who have opted into a persona fit the Newcomer category. They are new to managing their benefits and want to learn how to get the most out of their HSA. Based on the research, Newcomers tend not have chronic illnesses and most did not anticipate medical expenses in 2020. Newcomers do not feel comfortable or are only somewhat comfortable managing investments, and they rely on their HSA for short-term medical spending and/or saving rather than long-term investments.

The Catalyst – Only five percent of accountholders chose the Catalyst, which is a persona designed to meet the unique needs of women, who are likely to incur 84 percent higher medical costs than men according to the U.S. Department of Health & Human Services. They want to get the most of their HSA both now and in the future. However, an overwhelming majority are not comfortable or only somewhat comfortable managing investments and some expect their medical expenses to increase in 2020.

HealthSavings rolled out new persona-based education platform in an effort to better equip accountholders with the information and resources they need to get the most from their HSAs based on their current life stage(s) and focus. For example, Newcomers will have immediate access to basic educational resources and tools to help them understand automatic contributions, tax benefits and differing risk tolerances, whereas Planners will benefit from resources designed to help them understand low-expense mutual fund options, how to invest for their children's future and what Medicare does/does not cover. To explore the new persona-based resources, please visit https://healthsavings.com/persona-resources/.

About HealthSavings Administrators

HealthSavings offers account features and customized persona-based communications that are tailored to educate and support consumers at every stage of their health savings journey. Whether they are looking to pay frequent medical expenses tax-free or seeking to invest HSA dollars in low-expense mutual funds, HealthSavings accountholders maintain, on average, five times higher balances, paving the way for health and financial wellness now and in the future. Visit https://HealthSavings.com to learn more.

SOURCE HealthSavings

Related Links

https://HealthSavings.com

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.