HSA Management and HSA Management Services
HSAToday® – Manage HSA Assets and Investments
Jumping in to the HSA market and competing with banks (who offer HSA accounts for free) can be daunting for many third party administrators. However, as high deductible health plan enrollment surges, there’s never been a better time for offering HSA management services.
Since 2005, HSAToday® has been a trailblazer in the Health Savings Account market, with its low investment threshold, patented records and receipts vault, and industry-leading customer support. With simplified administrative processes, HSAToday can help you boost your bottom line and deliver greater client satisfaction without taking on a lot of extra work.
HSAToday streamlines and simplifies account setup, claims adjudication and reimbursement, record keeping, and more. Through the secure, single sign-on web portal, employers and account holders can make withdrawals and contributions, submit receipts, access statements, and update personal and plan information, among other features.
Blaze a trail to better HSA management, more revenue, and stronger client relationships with HSAToday.
Here are just a few of the challenges solved by HSAToday:
“Managing HSAs is tedious. Plus, the employee can register for an HSA at a bank for free, which relieves me of the task. What is the benefit of using HSAToday?”
When you register for HSAToday, you won’t have to worry about administering your clients’ HSAs. DataPath takes on full administration of the accounts. You get the benefit of added revenue without the hassle of HSA management.
“Many HSA providers require a $2,500 minimum before the account holder can start investing. The high minimum hinders account growth.”
HSAToday’s minimum for investing is $1,000, which means that account holders can start investing earlier and their dollars can grow quicker. Plus, employees can choose from a wide range of investment options tailored to their savings strategy. Investments are also customizable based on the account holder’s risk tolerance.
“Employers and employees find it difficult to manage their accounts through a third party.”
HSAToday provides a secure online portal that allows account holders and employers to manage their accounts. Employers may also use the portal to add company dollars to employees’ accounts.
Help account holders invest their HSA dollars with confidence. Multiple bins are available, and users may access educational tools such as investment prospectus, RIA-developed lifestyle models, and detailed investor statements.
Provide quick, single-source access to HSA dollars with the mySourceCard debit card. Plus, claims paid using the mySourceCard are auto-substantiated at the point of purchase, greatly reducing the claim processing workload and the incidence of “pay and chase.”
Accessible Claims and Receipts
Provide convenient access to claims and receipts for account holders. DataPath’s patented electronic ClaimsVault™ allows access to stored documents as long as the account holder maintains an active HSAToday account.
State-of-Art Mobile App
Enable account holders to view their accounts, monitor card activity, and manage personal information using DataPath’s myRSC app, available for both Android and iPhone.
Industry-Leading Customer Support
Give your clients the best in customer support. DataPath’s commitment to customer support is unparalleled, and we work directly with clients to address their concerns and exceed their expectations.
Other Benefits Include:
- Available account information and support, 24/7, for administrators, employers, and account holders via myHSAToday.com
- Simplified administrative processes for account setup, contribution processing, expense certification, tax document preparation and notifications to account holders
- MCC-restricted and IIAS-integrated debit card prevents tax penalties resulting from ineligible use
- Accessible tax forms that may be viewed, printed, and filled out online. Receive assistance with forms 1099, 8889, and 5438
- Secure Office of Foreign Assets Control identity verification with results management