Is it Time to Streamline Your HSA Business Strategy?
Health savings accounts (HSAs) are becoming more popular each year, and it’s easy to understand why. Your clients can use HSAs to save money in two ways. They can use HSAs to pay for current and future healthcare costs and they can include HSAs in their retirement investment strategy, similar to IRAs and retirement plans.
The HSA market is strong, even in times when the economy may not be so stellar. For example, according to Devenir Research’s 2023 Year-End HSA Market Statistics & Trends Executive Summary, HSA investment assets grew by 37 percent during 2023, despite experiencing the worst stock market in decades during the first half of 2022. Devenir is projecting that the HSA market will grow to nearly 44 million accounts by the end of 2026, holding over $168 billion in assets.
If you don’t offer HSAs to your clients, now may be a good time to test the waters and start your HSA program. It may also be a good time to consider having Ascensus manage your HSA administration—especially if we already manage your IRA program. Through our IRAdirect Fully Administered Program, we can give you everything that you need to build your HSA program—including forms, mailing services, call center support, beneficiary claims processing, eSign and Integrated Document imaging, tax reporting, staff training, and education. Whatever level of support you may need to establish, grow, or maintain your HSA program, we’ve got you covered.
Psst…We Specialize in More Than IRAs and HSAs
If you’re looking to grow your product offerings beyond IRAs and HSAs, we also offer forms, maintenance, and other support for SEP plans, SIMPLE IRAs, and Coverdell ESAs.
If it’s time to take your product offerings to the next level, let’s talk. Contact your Ascensus sales representative to learn more.
