National HSA Awareness Day brings the public and the healthcare benefits industry together to discuss the power of a health savings account (HSA) and its ability to impact some of the most predominant issues Americans face today, such as: managing health-related out-of-pocket expenses, preparing for unexpected healthcare costs, and financial planning for retirement. TRI-AD wants consumers to better understand the advantages of HSAs and how they can improve their financial wellbeing. With open enrollment right around the corner for most of America’s workforce, we want to help employees make educated choices regarding healthcare account elections.
Devenir’s 22nd semi-annual health savings account survey results show that 31 million HSA accounts now have HSA assets of $92.9 billion, a 26% increase year-over-year. Yet, only 45% of people who may qualify to open an HSA have actually opened one, according to the University of Michigan’s Institute for Healthcare Policy & Innovation.
Although HSA assets continue to rise, over 50% of consumers are uneasy with financial planning and many do not take advantage of their employer’s consumer-directed health care accounts. TRI-AD’s HSA provides a personalized investment experience for all account holders regardless of their investment aptitude and comfort level. Novice investors can rely on our robo-advisor which automatically rebalances investment choices to align with their unique risk profile. Accountholders can also select from different investing models and switch at any time. We offer a self-directed investment experience of ETFs traded in real-time, providing consumers with lower costs and competitive, diversified market returns. As a market leader in HSA solutions, TRI-AD’s first-of-its-kind brokerage option lets accountholders buy, trade, and sell stocks on the NYSE.
Many are missing out on maximizing the features of their HSA accounts because they may not be knowledgeable about the potential impact HSAs may have on their future financial wellbeing. TRI-AD’s HSA enhancements and educational tools make it fast, simple, and easy for employees to learn about, manage, and take full advantage of their HSAs.
TRI-AD and our Associates’ suggestions or recommendations shall not constitute legal advice. No content on our website can be construed as tax or legal advice and TRI-AD may not be considered your legal counsel or tax advisor. Clients are encouraged to consult with their tax advisor and/or attorney to determine their legal rights, responsibilities, and liabilities. This includes the interpretation of any statute or regulation, federal, state, or local; and/or its application to the clients’ business activities.