With health savings accounts increasingly getting more attention, two companies are diving into the fray by targeting two separate aspects of such accounts' utility: saving to pay for health expenses and saving as a retirement vehicle.
Alegeus has announced an HSA initiative that "features machine learning and artificial intelligence to deliver the industry's first truly 'smart HSA,' while HSA Bank has announced an advisor-driven HSA investment program that enables investment advisors to provide an open-architecture HSA investment lineup to benefit clients' employees.
The Alegius entry begins with an "enhanced employer portal" that helps employers "focus on the metrics that are most impactful to their bottom line, including the capture of premium and tax savings."
In addition, it will provide employers context to benchmark performance against peers by means of a CDH Health Score that quantifies the financial impact of a program not being fully optimized, as well as suggesting a course of action to capitalize on incremental opportunities.
