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Health Savings Account (HSA)

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Smart Retirement Solutions for HSA

Aspire has partnered with HSA Bank to serve as the investment technology provider, providing an Advisor-Driven HSA Solution.

By leveraging the unique savings capabilities of a HSA, the HSA Bank advisor-driven HSA solution enables you to offer a leading, full-service HSA product to your clients. You’ll have the flexibility to customize investments, the visibility to oversee performance, and the opportunity to generate revenue through an asset-based fee or shared account fee structure.

HSAdvisor+SM can now apply their expertise to HSA investments to add value in the same way they do for traditional retirement plans.

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  • A Changing Landscape

    75%

    of employers view HSAs as an integral part of their retirement benefits strategy.

    60%

    of employers believe that HSAs should replace Flexible Spending Accounts (FSAs).

    75%

    of employers think that HSAs should be open to all employees, not just those enrolled in an HDHP.1

    1. "Health Savings Accounts and Retirement Plans." Plan Sponsor Council of America, July 2017

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  • HSA Investment Assets (In Billions)

    A strong market helped HSA investment assets in the U.S. reach $8.3 billion for the year in 2017, up 53% year over year. Devenir projects that by the end of 2020, the total HSA market will approach $75 billion in assets covering more than 29 million accounts.2

    2. "2018 Midyear Devenir HSA Research Report." Devenir, August 2018.

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  • The Retirement Savings Gap

    There is an alarming imbalance between the number of consumers saving for future healthcare expenses and the rising cost of healthcare in retirement. An HSA can play an important part in bridging this retirement savings gap.

    $360,000

    needed in retirement to cover healthcare costs3

    41%

    of consumers never save money specifically for future healthcare expenses4

    3. "2018 Retirement Health Care Costs Data Report." Health View Services, October 2018.

    4. "HSA Bank Health and Wealth Index.SM" HSA Bank, March 2018.

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HSAdvisor+SM Program Benefits

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Offer a leading, full-service HSA solution to clients

  • Employers manage HSA setup, employer contributions, and payroll integration for employee contributions.
  • Account holders have access to an online portal to manage their cash balance and investments.
  • Account holders that have an active retirement account on the Aspire recordkeeper platform can easily manage both from the same portal.

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Customize and manage investment options

  • Advisors can select from a universe of mutual funds to set up a customized list of investment options for each employer.
  • Use the platform to monitor and manage investment performance and options, including investor activity and balances, and aggregate data for reporting.
  • Advisors can holistically manage HSA and retirement accounts together on Aspire’s recordkeeping platform.

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Receive compensation for the HSA program

  • Generate revenue through an optional asset-based fee and share in account fees.
  • Receive revenue share for each HSA sold and maintained.
  • Asset-based fees are collected from investor accounts and paid quarterly.

How It Works

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Advisor promotes HSA program to current retirement clients who have at least 50 employees and offer a high-deductible health plan (HDHP), leveraging HSA Bank sales and marketing support.

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Advisor works with HSA Bank to complete contracting and implementation process.

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Advisor selects the client’s investment lineup on the HSA Bank investment portal.

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Account holder establishes investment account, makes investment elections, and sweeps money.

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Account holder manages investments on the investment portal.

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Advisor continues to monitor account for performance, and reports summary data to plan sponsors.

Getting Started

To begin offering HSAs to your customers, complete the form to have one of our Sales Professionals call you today.

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To learn more about our partner HSA Bank and the solutions they provide, visit their corporate website here.

© HSA Bank. HSA Bank is a division of Webster Bank, N.A., Member FDIC All rights reserved.

Private-Label Branding

Aspire offers a flexible Private-Label Branding program featuring customization options that allow outsourced retirement management services to be seamlessly integrated into a company-branded solution.

InvestDesign Center

The InvestDesign Center is the premier online destination for TPAs and Advisors to:

  • Request a proposal
  • Access sales materials and forms
  • Link to sales and service teams
  • Customize choices
  • Access private-label branded materials

Resources on Demand

Aspire’s online Resource Center provides Participants, Plan Sponsors and Advisors with learning tools to assist in planning and saving for retirement. The information provided is for individual use and may also be adapted as part of a financial learning curriculum for online or on-site training.