HSA Bank and Jellyvision announced they will partner on a health savings account (HSA) product that will focus on user education and health care consumerism and will highlight just-in-time benefits for employees.
According to a recent HSA Bank survey, 80% of Americans are confused by terms such as premium, copay, co-insurance, deductible and out-of-pocket maximum. Fifteen percent of people were unable to identify their health insurance plan type, possibly putting them at a disadvantage when they try to access health care services.
Jellyvision’s ALEX platform aims to solve this problem by providing personalized benefits guidance. The new HSA experience, powered by HSA Bank, will be available as an add-on to ALEX to help bring even more clarity to health insurance options. “By educating employees through the ALEX platform, we’re not only increasing involvement in their health, but we’re also helping them understand the financial impact of their health care decisions to make smart choices for long-term savings,” says Chad Wilkins, president of HSA Bank.
Jellyvision CEO Amanda Lannert adds: “When people are confused by their benefits, they tend to make less-than-ideal decisions that end up hurting themselves financially. We’re thrilled to be teaming up with HSA Bank, a market leader in HSAs, to help turn that around for American employees.”
The new product with be available in the fourth quarter.
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