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View More Press Releases by HealthSavings Administrators

Press release:

HealthSavings Administrators Expands Management Team and Offering to Meet Mounting Demand for Its Investment-Focused HSAs

Issued by: HealthSavings Administrators

Date: Mar. 6, 2019

Trifecta of HSA Talent Sharpens HealthSavings' Vision and Spurs Market Traction for HSAs Wielding Balances 5x Higher than Industry Average

Richmond, VA - March 6, 2019 - HealthSavings Administrators, a top health savings account (HSA) provider, today announced the addition of another proven industry powerhouse to round out the company's new leadership team and fuel growth. The company also unveiled key capabilities to improve accountholder and employer user experiences.

Establishing Leadership
Now with more than $817.5 Million in assets under management and achieving average account balances above $10,000 - five times greater than the industry average - with net contribution amounts averaging 39 percent, HealthSavings leads the market for investment-focused HSAs. CEO Dean Mason, who took the reins in mid-2018, and former fervent competitor Craig Keohan, who was appointed chief revenue officer (CRO) late last year, are actively building HealthSavings' market presence. With today's official appointment of industry veteran Sandi Santino as senior vice president of national strategy and growth, the leadership team will work together to drive the company's continued dominance as "The Investor's HSA".

"This is the year for the complete convergence of HSAs and retirement planning. Future-focused financial advisors and investors are realizing that HSAs are not just simple healthcare spending and savings accounts - the true benefit of an HSA is the tax-free investment opportunity it can deliver and our account holders are shattering industry averages for overall balances," noted Mason. "A respected industry team, Craig and Sandi have been at the forefront of the shifting needs in the consumer-driven healthcare landscape from the inception of HSAs through today. Sandi will spearhead the recruitment and development of our sales team as we focus on offering the best long-term HSA value with exceptional customer service."

Most recently serving as senior VP at SelectAccount and SVP at Further, Santino has been a fixture in the health benefit market for 25 years and has spent more than a decade working exclusively with consumer-driven health care (CDHC) products such as HSAs, health reimbursement arrangements (HRAs), and flexible spending accounts (FSAs). In a variety of roles at ConnectYourCare, HealthEquity, and other leading benefit companies, she has helped countless employers implement successful first-time and replacement CDHC strategies. Santino earned her degree from the University of Southern Maine.

Improving User Experiences

HealthSavings expanded its support team and increased its focus on building out its technology platform to better serve accountholders under the direction of its new executive team.

Key advancements include:

  • For Accountholders - streamlined, single-login access to both cash and investments; intuitive navigation with a redesigned interface inspired by consumer-friendly retail applications; and direct access to Morningstar fund data with clear explanations of investing terms for new investors.
  • For Employers - simplified employee enrollment processes via file upload or online forms for rapid completion; expanded employee account contribution choices now offering file upload and online options for ACH/EFT, wire and checks; and complete views of employee profiles and contribution history.
"With so many benefits players in the mix, HealthSavings truly leads the pack in terms of its long-term investment pedigree to unlock the full benefit of HSAs," added Keohan. "Together, HealthSavings' deep bench of longstanding industry leaders will drive considerable growth for the company as the market embraces HSAs as an investment tool in the years ahead."

About HealthSavings Administrators
HealthSavings empowers consumer-driven health plan participants to invest all their health benefit dollars in institutional-class funds so they can grow their savings tax-free and meet their financial goals for a happy, healthy future. By choosing from a carefully curated selection of funds with lower expense ratios and no trading fees, HealthSavings accountholders have historically saved five times more than the industry average. Visit HealthSavings.com to learn more.

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View More Press Releases by HealthSavings Administrators

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