Healthcare banking doesn’t have to be complicated, but it usually is. For you and for your customers.
Health Savings Accounts (HSA) are a perfect example of this.
More and more, consumers are looking for flexible alternatives to traditional healthcare plans and benefits, but there aren’t that many great solutions out there for them.
Why aren’t HSAs adopted more broadly?
- They’re confusing
- There’s a worry of not contributing enough
- There’s a fear of not knowing if and what you’re covered for and when
What’s great about HSAs?
- They’re portable
- They’re flexible
- There are potential tax benefits
- They can be a part of a broader investment + retirement plan
- They can help hedge against inflation
DYK: A 31% Compound Annual Growth Rate (CAGR) (reaching $35.6B) in healthcare payments is expected by 2030
An embedded banking platform helps you easily launch things like health spending accounts (HSA) and card products for your customers. This creates a stickier product while adding new revenue streams that contribute to your company’s long-term health and success.
In addition, your customers can:
- Seamlessly transfer money into the account
- Track expenses in real time
- Receive unique benefits by bundling their HSA with your existing product
And it’s not that hard to do…
- Find the perfect bank for you to partner with
- Provide you with the platform you need to launch an HSA product
- Let you scale in an efficient and speedier way
At the end of the day, providing your customers with a better overall experience, and not spending all of your time and money on building it out yourself, allows you to increase your offerings with things like financing for speciality services and B2B health payments over time.
Since you already provide products and services related to healthcare, you’re in the perfect position to start now.
Want to chat? Reach out to Synctera today.
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