HSA Bank and MyHealthMath Share Strategies on Using HSAs to Advance Health and Wealth Equity

Rhea-AI Summary

HSA Bank, a division of Webster Bank, and MyHealthMath co-sponsor an upcoming webinar on utilizing Health Savings Accounts (HSAs) to promote health and wealth equity. Scheduled for October 20, 2020, at 1 p.m. CT, the event aims to educate employers on strategies to enhance HSA enrollment and provide equitable benefits. Key speakers include Dr. Elizabeth Coté and Kevin Robertson. HSA Bank, with $9.0 billion in total assets, has been a leader in consumer-directed healthcare for over two decades, serving 3 million members.

Positive

• The webinar aims to educate employers on enhancing HSA enrollment, potentially leading to increased participation and benefits access.
• HSA Bank has a robust financial position with $9.0 billion in total assets.
• The partnership with MyHealthMath may strengthen HSA Bank's service offerings and reach.
• Strategies discussed could lead to improved consumer education and engagement in healthcare decisions.

Negative

• None.

MILWAUKEE, Oct. 15, 2020 /PRNewswire/ -- HSA Bank, a division of Webster Bank, N.A., and MyHealthMath announced today that they will co-sponsor a webinar on how Health Savings Accounts (HSAs) can be used to advance health and wealth equity. With the right employer support, HSAs can be an attractive option for all employees and can improve access to cost-effective healthcare.

"The unfortunate reality is that lower income populations are more likely to overpay on health insurance, leaving them less money for vital expenses and investments like retirement. This ultimately contributes to increasing wealth disparities," says MyHealthMath Chief Mission Officer, Elizabeth Coté, MD, MPH. "This webinar can help employers break this cycle, increase enrollment in HSA-eligible plans, and provide more equitable benefits for all their employees."

Webinar speakers will include Dr. Elizabeth Coté, MD, MPA, Chief Mission Officer from MyHealthMath, Bob Watterson, Chief Executive Officer from MyHealthMath, Kevin Robertson, Chief Revenue Officer from HSA Bank, and David M. Coolidge, JD, Benefits Consultant and ERISA attorney from Pierce Atwood LLP. 

The speakers will share strategies that employers can use including offering enhanced plan design that makes enrollment easier, HSA matching contributions, improved consumer education, and decision support. These approaches can make HSAs an attractive option for all employer populations, improving access to cost effective healthcare and tax savings.

"The COVID-19 pandemic has caused financial pressure which necessitates that employees be even more engaged in making smart decisions with their healthcare dollars," said Kevin Robertson, Chief Revenue Officer of HSA Bank. "When employers offer increased support and education, employees are more engaged, resulting in better and more confident healthcare choices."

The webinar titled "Use HSAs to Advance Health and Wealth Equity and Inclusion," will be held on Tuesday, October 20 at 1 p.m. CT. To register, click here.

About HSA Bank:
HSA Bank is a trusted leader in consumer-directed healthcare (CDH), focusing on Health Savings Accounts (HSAs) for over two decades and serving as both the bank and administrator. Discover how we can support your benefits strategy with our comprehensive account-based health benefit solutions that include HSAs, Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Commuter Benefits, COBRA Administration, and HSA retirement solutions such as HSAdvisor+. With a reputation for outstanding service and thought leadership in the CDH space, we offer one platform and one portal for all of our members. HSA Bank inspires 3 million members and 35,000 employer groups to "own your health" by making it easy to access, understand, and afford healthcare. As of June 30, 2020, HSA Bank has $9.0 billion in total footings (assets) comprising $6.8 billion in deposit balances and $2.2 billion in assets under administration through linked investment accounts, and is a division of Webster Bank, N.A., Member FDIC.

About MyHealthMath (MHM):
MyHealthMath is an Insurtech firm that uses advanced decision-support technology to simplify health insurance planning so people can choose the most cost-effective health plan. By making it easier for employees to understand their health plan options, MyHealthMath transforms individuals into informed consumers, saving money for both employers and employees. Based in Portland, Maine, MyHealthMath has direct and SaaS clients throughout the US. As a neutral third-party, MyHealthMath guarantees confidentiality for all individual use data collected from claim reports and individual interviews. To learn more about MyHealthMath, visit www.myhealthmath.com.  

Media Contact:
Alice Ferreira
Webster Bank
(203) 578-2610
acferreira@websterbank.com

Media Contact:
Jennifer Dean
HSA Bank
(920) 453-5286
jedean@hsabank.com

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SOURCE HSA Bank

FAQ

What is the focus of the HSA Bank and MyHealthMath webinar on October 20, 2020?

The webinar focuses on how Health Savings Accounts (HSAs) can be used to advance health and wealth equity.

Who are the key speakers at the HSA Bank and MyHealthMath webinar?

Key speakers include Dr. Elizabeth Coté, Kevin Robertson, Bob Watterson, and David M. Coolidge.

When is the HSA Bank and MyHealthMath webinar scheduled?

The webinar is scheduled for October 20, 2020, at 1 p.m. CT.

How does HSA Bank support its members?

HSA Bank supports its members by providing comprehensive account-based health benefit solutions, including HSAs.

What is the financial status of HSA Bank as of June 30, 2020?

As of June 30, 2020, HSA Bank reported total assets of $9.0 billion, with $6.8 billion in deposit balances.