Getting the most value from an HSA

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When companies introduce health savings accounts (HSAs), how do they convey their value to employees and help them make the most of the benefit?

A health benefits administrator discusses how OptumBank® supports his large company's employees. This can be helping people who are:

  • Learning what an HSA is
  • Looking to use it more effectively in their day-to-day health management
  • Ready to use as a long-term investment tool

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Podcast transcript: Getting the most value from an HSA


Podcast transcript:

Host: Companies have choices when it comes to health savings accounts.  We believe OptumBank offers the best solutions to manage HSAs. But don’t just believe us — ask our customers what they think. That’s why we invited an expert to join us on the podcast today.  I’m your host Veronica March. We are thrilled to introduce a health benefits administrator who will share what it’s like to work with our team. Welcome. First, tell us who you are and a little about your company.  

Tim: I am Tim Quitmeyer, I work for JLL, and JLL is professional and finance services firm that specializes in corporate real estate. JLL has over 22,000 employees in US and 80,000 globally.

Host: That is a huge workforce. How do your employees learn about HSAs?

Tim: So when employees comes on, they receive a welcome package from OptumBank that gives and explains what is an HSA, how do you access the HSA, and the inofrmation on where to go online and where to call for help. 

Host: Talk to us about the training tools you find helpful—besides the initial introduction.  

Tim: With OptumBank, for our employees, they ofer a suite of resources tools that our employees can engage in. This is anywhere from webcasts they do throughout the year to help employees at different levels understand what is the health savings account from a very basic level. Then to the intermediate, of how can I use my HSA more effectively, how can I save, how and when should I spend? And then even moving up to another tier of, how do I invest, how do I do this for long-term for my retirement? Our employees also have the opportunity to use Optum’s health savings check up tool.

Host: That checkup tool is a great way to estimate health care costs during retirement. What stood out for you when deciding to partner with OptumBank for your Health Savings accounts? 

Tim: I think there’s two different avenues we looked at it from, we looked at it from our employer’s piece -- how do we reduce administration, how do we have a partner that is going to help JLL and make this a very easy, a very refined process, where there is not a lot of involvement and it just works on its own. So when we looked at that, Optum did have a platform where we could easily transfer the funds from our company to Optum, to get it to our employee’s accounts. They offered a very easy account team to work with – we have dedicated resources that help us deal when there is escalations, employee support that type of thing.  

Host:  And how about from the employee perspective?

Tim: With Optum, there are multiple ways you could look at; employees could easily take money out, writing a check. You can do it online. That's pretty common today but five years ago might not have been. But you can do online checking, you can go to ATM and use your account card that you get from your HSA account to withdraw money.  And, I think the other great things Optum offers is the integration with our medical plan, is that they have they have the ability to pay providers directly. So you have very little administration from employee’s perspective. How do I go, how do I write checks, pay my doctor or can just have Optum do it directly. You also have to look at the investment piece. Optum offers a pretty good mix of mutual funds they are making available to our employees, depending upon their they are very open and very forthcoming on what those risks are. And have necessary reporting available to our employees.  

Host: Describe for us how has your relationship with OptumBank grown over the years.

Tim: So when we started our journey with Optum, we really started with the HSA account, and when we brought that on, it was one of those things, those nice surprises where we learned what Optum could do and from a clinical and health care data analytics perspective, we really kind of saw a lot of movement over the years on how does Optum touch the employee. One of the great things about working with Optum is that they're all about health care and they have a very holistic approach in connecting the dots not only for the employees but for the employers. And you see that when you look at the HAS and you look at the clinical offerings they have in place. So the future looks very bright in our partnership with Optum. They have some great things we are seeing in the realm of health care data analytics that is very exciting and we really look forward to looking how that approach and how that information will help connect and work with all the Optum products. 

Host: We are glad you made the choice to partner with OptumBank. Thanks for sharing your experience with the podcast audience. We enjoy listening to our customers so we can continue to innovate new ways we can partner toward building healthier lives. To learn more, visit OptumBank.com.