HSA Go-To-Market Strategies
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HSA Go-To-Market Strategies

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FIS examines three distinct HSA go-to-market strategies – helping you determine if an HSA offering is right for your institution.

FIS examines three distinct HSA go-to-market strategies – helping you determine if an HSA offering is right for your institution.

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HSA Go-To-Market Strategies HSA Go-To-Market Strategies Presentation Transcript

  • Health Savings Accounts: A Review of Three Distinct HSA Go-to-Market Strategies
    Sherry K. Lawton, Senior Healthcare Strategic Sales Executive
    FIS Government, Education and Healthcare Division
  • The Crazy Lady in Front of You!
    Sherry K. Lawton
    Sr. Healthcare Strategic Sales Executive
    FIS Government, Education and Healthcare Division
    Worked with HSAs since their inception in 2004
    Consult with financial institutions to understand and implement successful HSA programs and solutions
    ABA’s HSA Council
    Prior life worked with financial institutions to understand and implement online banking and bill payment solutions, including social media marketing
    2
  • Our HSA Discussion
    3
    Why do HSAs sizzle?
    Show me the money
    Healthcare Bill
    Market statistics
    Ten best practices
    Do your homework
    Understand the basic HSA product
    Establish realistic goals
    Turnkey marketing and education
    Flexible enrollment options
    Online account management
    Integrated investment options
    Entry into CDH market
    Health and wealth
    Customer empowerment
    Next steps
  • The Sizzle of Health Savings Accounts
  • Why HSAs?
    Single biggest opportunity since the 401k
    Introduced in 1978………Over 30 years ago!
    Deposits, Deposits, Deposits
    Fee income and interchange revenue
    New commercial and small business customers
    Expand/strengthen current customer relationships
    Cross selling opportunities
    Average of four services per HSA account holder
    New Healthcare financial planners / advisers
    Healthcare “Reconciliation” Bill
  • Healthcare “Reconciliation” Bill Impacts
    You in the audience
    As an employer
    As an employee
    As a financial institution
    Your customers
    Large commercial clients
    Mid to small clients
    Individuals
    Consumer driven health care
    Health Savings Account market
    6
  • HSA Market Estimates for 2012
    $325 Billion in Assets
    30,000,000 Accounts
    Source: Bearing Point, February 29, 2008
  • CDHP / HSA Adoption
    NOTE:
    CDH includes: HSA, HRA, FSA
    CDHP includes: HSA, HRA
    Sources: Leading Research Firm, US Census Bureau, Kaiser Family Foundation, Aetna, eHealthInsurance, Employers Council on Flexible Compensation, Mercer, CFO.com, Benefitnews.com, 100 Best MerchantAccounts.com, Federal Reserve, ISI, Forrester, US government reports/agencies BearingPoint SME, others
  • It’s All About the Customer
    10 Best Practices for HSA Program Success
  • 1. Do Your Homework
    Who is your target market?
    Commercial clients
    Retail / Branch / Online customers
    Trust / Wealth managers, Investment brokers and agents
    Health plans, TPAs, Insurance and Benefit agents / brokers
    Payroll providers, Others
    What division will own the HSA product?
    • Treasury
    • Wealth Management
    • Commercial
    • @ Work/Small Business
    • Retail
    • Trust
    • Healthcare Division
    • Insurance Division
  • 2. Understand the Basic HSA Product
    DDA on Steroids
    Acts like a checking account
    Debit Card
    Checks
    Recommend No ATM
    Tiered interest rates similar to a Money Market account
    Tax reporting like an IRA
    Regulatory reporting
    5498SA and 1099SA
    Separate BIN
    Merchant code restrictions
    VISA and MasterCard requirements
    HSA Portfolio of Accounts
    11
  • 3. Establish Realistic Objectives
    CRAWL
    WALK
    RUN
    SPRINT
    Establish
    Promote
    Enhance
    Surpass
    • Full suite of consumer driven healthcare solutions (FSA, HRA, dependant care and transit accounts)
    • Add advanced HSA capabilities such as integrated investments
    • Begin promoting your HSA program in the marketplace
    • Establish an HSA program
    PROGRAM MEASUREMENT
  • 4. Turnkey Marketing and Education
    Health Savings Accounts 101
    Web sites / Portals
    Glossary of terms
    Training tools
    Brochures
    Empowering employers and brokers
    PowerPoint presentations
    Collateral
    Program overviews
    Help wizards
    Employee / Consumer Enrollment Decision Support
    Flash movies
    Tutorials
    Calculators
    Frequently asked questions
    FIS Wealthcare Portal
  • Automated Account Opening (AAC)
    Accepts employee data from online application and / or eligibility file
    Manages data scrubbing
    CIP / OFAC screening
    CIP exception management
    Opens DDA and Investment Accounts
    Sends file to preferred print vendor for Welcome Kits
    Sends file to create and mail Debit card
    Bulk/Batch Enrollment
    Online Enrollment
    Paper Enrollment
    14
    5. Flexible Enrollment Options
  • 6. Online Account Management
    Integrated HSA depository and trust account processing
    Web- based and brandable
    Single online access to all HSA accounts
    DDA, MM, COD and Investments
    Account balances
    Transaction history
    Contribution history
    Integrated, self-directed investments
    Thresholds and automated sweeps
    Bill payment
    Consolidated statements
    Regulatory reporting
    FIS Personal Cash Manager
  • 7. Integrated Investment Options
    Integrated HSA DDA and Investment Solution
    Should have:
    Consolidated statements (much like a 401k)
    Single Participant Login
    Self-directed
    Sweeps and Thresholds
    Asset allocation to support the 401K-like model
  • 8. Entry into CDH Market (Sprint)
  • 9. Health and Wealth
    Wealth
    Smart and Informed saving and spending
    Health
    Proactively manage their health
    Personal health records
    Patient-owned, patient-managed medical records
    Track medical details for family members and dependents
    Comprehensive record of conditions, medications,
    allergies, diagnostic statistics, etc.
    Messaging, reminders and alerts
    Links to clinical information
    Health risk assessment
    Wellness
    WealthCare
    Mobile
    FIS HealthManager
  • 19
    Integrated CDH Vision
  • 10. Customer Empowerment is Key
    HSA Program Success:
    It’s all about the customer.
    Education, Education, Education
    Easy
    Management of their healthcare $$
    Management of their wellness, health and medical
  • Review the HSA Sizzle
  • Our HSA Discussion
    22
    Why do HSAs sizzle?
    Show me the money
    Healthcare Bill
    Market statistics
    Ten best practices
    Do your homework
    Understand the basic HSA product
    Establish realistic goals
    Turnkey marketing and education
    Flexible enrollment options
    Online account management
    Integrated investment options
    Entry into CDH market
    Health and wealth
    Customer empowerment
    Next steps
  • Want the Sizzle…Next steps
    Get moving
    Review the 10 steps discussed today
    Focus on Steps 1, 2 and 3
    Talk to your customers
    Evaluate your technology
    Contact your Strategic Account Manager
    Contact me
    23
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    Second Column
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    Page Number
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    Click on the corner of this text box to delete
  • Sherry K. Lawton, Sr. Healthcare Strategic Sales Executive
    FIS Government, Education and Healthcare Solutions
    402.730.3317
    sherry.lawton@fisglobal.com
    Thank You