Top tips for insurance brokers, advisors and employers: Part 3
We continue our series on navigating health spending accounts; top tips for insurance brokers, advisors and employers. In part 1 we discussed the two HSA products available; the prepaid Mastercard® option versus the traditional pay-as-you-go model and in part 2 we compared a traditional group benefit plan with a health spending account added on versus a stand alone health spending account. This week we will explore the benefits that come with using a completely digital health spending account experience.
A recent Gallagher survey, 2021 Benefits Strategy & Benchmarking Survey, revealed that attracting and retaining a competitive workforce (56%) and controlling the cost of employee benefits (52%) were the main benefit concerns. In addition, the Sanofi Canada Healthcare Survey January 2020 showed that 93% of employees like having an HSA, while 82% who do not have one would like one. Providing employees with the option to spend their benefits on what they choose and doing so in a cost effective manner is a win-win situation for employers and employees.
Let’s continue exploring health spending account choices by looking at how providing a complete digital experience can lead to a great user experience.
Tip 3: Choose a health spending account partner who offers a complete digital experience.
All aspects of your health spending account experience should be digital; filling out paperwork is no longer required. Aya provides a complete digital experience for all aspects of its health spending account. From onboarding your company to all of your employees it can be done online. Not only can it be done online, but the entire process can be done in a matter of hours, meaning from the time you decide you want to purchase a health spending account until the time your employees can start using it can be just a few hours.
Furthermore, the digital experience should not end at onboarding, submitting claims, understanding your account balance, and looking at old claims all can be accessed within the Aya app or within the Aya website. Submitting a claim is as easy as uploading a photo of the receipt, filling out a simple form and can be done within the app or on the website.
Providing employees is a great way to increase employee retention and satisfaction, furthermore providing employees with an intuitive, easy to use digital app and website enhances that experience further. Your employees are one of, if not your greatest asset, make sure you are doing everything you can to attract and retain top talent.
If you would like to learn more about health spending accounts and how they can fit into your employee group benefits, don’t hesitate to reach out to sales@ayacare.com. Our team can answer all your questions and provide you with insights on how health spending accounts can benefit you and your organization and attract the new hires you are looking for. Watch this space for more tips on navigating HSAs for your clients or your business.
