How to Educate Small Business Clients About the Value of Health and Wellness Spending Accounts
Health and wellness spending accounts (HSAs and WSAs) are an incredible way for small businesses to offer flexible benefits without going over budget. But if your clients aren’t familiar with these options, they might not get why they’re such a great option. The key is to break it down in a way that speaks to their priorities and makes sense for their business.
How Offering Health and Wellness Spending Accounts Can Set You Apart as an Insurance Advisor
Let’s face it—being an insurance advisor can be tough. You’re competing with countless other advisors who are offering the same basic packages, from group health to dental and life insurance. So how do you stand out? One powerful way is by offering something a little different—health and wellness spending accounts (myHSA, myWSA and myFlexplan). These flexible, customizable benefits aren’t just a cool perk; they can be a game-changer for your clients and a way for you to differentiate yourself in a crowded market.
How Health and Wellness Spending Accounts Complement Traditional Benefits Plans
If you’re offering traditional benefits plans to your clients, you’re already providing a solid foundation of support for their employees. But have you considered how health and wellness spending accounts (HSAs and WSAs) can take those benefits to the next level? Think of these plans with myHSA as the perfect sidekicks to traditional plans—adding flexibility, coverage, and a personal touch that can make a big difference.
Overcoming Common Objections to Health and Wellness Spending Accounts
Health and wellness spending accounts (HSAs and WSAs) are flexible, customizable, and can be a game-changer for employee benefits. But let’s be real—when you suggest these accounts to clients, you might get some pushback. Whether it’s concerns about complexity, costs, or whether employees will even use them, objections are common. The good news is that these worries are easy to address once you break things down.
The Case for Health Spending Accounts: A Valuable Option for Your Small Business Clients
As an insurance advisor working with small businesses, you’re familiar with the challenges your clients face when it comes to employee benefits. Many struggle with the costs and inflexibility of traditional insurance plans. Health Spending Accounts (HSAs) offer a highly attractive alternative for your small business clients. Let’s examine why HSAs might be a fitting choice for them.
Tips for Advisors from Your Account Team
Halfway through 2024 (we know, it blew our minds too)
July 1 marked the halfway point for most plans. Now is the time to review utilization and start brainstorming ways to engage employees for the rest of the year!
Large Group Demos
Justine, our Account Manager, is here for your large group demos! Take advantage of the slower time of year to get your large groups familiar with the myHSA system before busy season starts!
Group with 10 lives or more?
If you have a group with 10 lives or more, fill out the Import Spreadsheet (located in your resources tab) with all the required data and send it to support@getmyhsa.com and we will import the employees for you!
Prospect Centre
Our Prospect Centre on your Advisor Dashboard is a great source of information! You have access to instant proposals, our quoting tool and even benchmarking data anytime you need it.
Switching to myFlexplan mid-year
Is your client ready to make the switch from an HSA to myFlexplan? This is a great and easy option for your clients whose needs have changed or who are ready to have more flexibility and options. The best news is that switching to myFlexplan mid-year is easy! Just ask us at support@getmyhsa.com
Seasonal Employees
Seasonal employees are very common to have this time of year! Ask us for help on setting up seasonal plans with distribution schedules for groups with seasonal employees.
Platform Updates
Multi-Factor Authentication for Plan Administrators
Multi-Factor Authentication (MFA) via text message is now available for all Plan Administrators! If a Plan Admin would like to receive an MFA verification code via text message, they can add their phone number to their myHSA account under "Settings." The default method for MFA is via email.
New and Improved Clients Tab
Looking to add a new client? Clients tab. Looking to edit an existing client? Clients tab. Looking to add or see your client's employee list? ...you guessed it, Clients tab! As a busy advisor navigating multiple provider sites, we want to make your life as easy as possible by putting everything you need to know in one handy location.
Missing your Employees tab? Easily navigate back to the full employee listing by heading to Clients and clicking the "VIEW AND SEARCH ALL EMPLOYEES" button.
myHSA Help Articles
Our incredible Support staff are always adding to our library of answers for Frequently Asked Questions! With everything from making claims, definitions of common (and not-so-common) terms, eligibility, and so much more, everything you need to know about myHSA is available anytime.
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