BPAS is pleased to announce the release of our next generation BPAS Health Savings Account. This proprietary build off of our nationally-recognized daily-valuation-recordkeeping platform is ideally suited for our 401(k)/403(b) clients.
The BPAS HSA offers single sign-on, an open-architecture investment platform that mirrors plan sponsors’ DC offerings, combined statements, and integrated online and onsite participant education. Plus, there are no requirements for low-yielding money market or bank deposit balances. Participants invest first-dollar and choose from an array of investments selected by the advisor, then use a debit card to access their account.
We leveraged our retirement outsourcing service to provide for HSA online enrollment, contribution rate changes, utilization reports, and targeted messaging, making it easy for our plan sponsors to adopt.
According to Barry Kublin, CEO of BPAS:
“The cost of retiree medical is overwhelming, and many participants who have successfully saved in their 401k/403(b) are ill-prepared for the costs of Medicare and other medical expenses. The unique tax benefits of HSAs effectively complement traditional retirement savings, and we believe such guidance is more effectively delivered by financial advisors.”
We believe the industry is ready for fee transparency, a fiduciary level of service, multi-disciplinary financial literacy, and benefit administration outsourcing. To learn more about the BPAS HSA, visit BPAS.com or email [email protected].