Expanding HSAs Could Help Fix America’s Broken Health Insurance Model

ANNEMARIE SCHIEBER | June 27, 2019

article image
A recent survey revealed only one in five people currently enrolled in an employer-sponsored health plan have a health savings account (HSA). More unsettling, few use them to save money for future health expenses.There could be a variety of reasons why people dont use HSAs, but lack of a tax perks cant be one of them. Unlike 401ks, Roths or traditional IRAs, HSAs offer a double savings bonus.  They are pre-tax, meaning contributions from salary or wages are exempt from income and social security tax and money in the account grows tax-free. There is no timetable for withdrawals.

Spotlight

Aviva India

Aviva India or Aviva Life Insurance Company India Limited is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited – a UK based insurance group, whose association with India goes back to 1834. We understand that customers find insurance to be complex, which is why we believe in creating ‘simple products’ that deliver great value. With a strong sales force of over 14,000 Financial Planning Advisers (FPAs), we have initiated and pioneered many innovative sales approaches, including the concept of Banc assurance and Financial Health Check services. We are among the first companies to introduce the contemporary unit-linked products. We believe that an insurance solution should be an informed purchase and a lifelong relationship.

OTHER ARTICLES

BANKS CAN TEACH INSURERS HOW TO TURN DATA INTO PROFITS

Article | April 9, 2020

Open banking rules, particularly PSD2 regulations in Europe, have forced banks to share their customer information. Some progressive lenders have turned this threat to their businesses into a big opportunity. They’re using data-sharing ecosystems to reach more customers and launch new products. They’re also teaming up with promising business partners and expanding into fresh markets.

Read More

Automation for the Future of Insurance: Enabling the Ecosystem

Article | April 9, 2020

During InsurTech Connect 2019, the world’s largest gathering for the insurance industry, I had the opportunity to meet and talk about the future of insurance with executives, thought leaders, analysts, consultants, and tech providers. In an interesting discussion with Seth Rachlin, chief innovation officer of Insurance at Capgemini, he discussed three trends that he envisions driving the “future of insurance.”

Read More

Working From Home: What You Need to Know About Insurance Coverage

Article | April 9, 2020

During these unprecedented times, the everyday norm is shifting for most Americans. Commutes have become a simple walk down to the coffee maker instead of the usual 15-30 minute drive from home. With much of the workforce working remotely, likely from a home office, it is important that you are protected from further unexpected exposures. Most homeowner and renters insurance policies limit coverage, so discussing business exposures with your agent to ensure proper coverage is in place is a must.

Read More

Insurance Chatbots: Optimizing Customer Experiences

Article | April 9, 2020

Artificial intelligence (AI) has changed the insurance industry – and customer service is no exception. One of the most common forms of AI are the use of chatbots, which Forbes defines as “software functionality that is designed to receive conversational input through text of voice and then generate a response that is also in natural language.” In other words, instead of interacting with a human, you’re “chatting” with a bot that’s programmed to understand your questions and direct you to the right place.

Read More

Spotlight

Aviva India

Aviva India or Aviva Life Insurance Company India Limited is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited – a UK based insurance group, whose association with India goes back to 1834. We understand that customers find insurance to be complex, which is why we believe in creating ‘simple products’ that deliver great value. With a strong sales force of over 14,000 Financial Planning Advisers (FPAs), we have initiated and pioneered many innovative sales approaches, including the concept of Banc assurance and Financial Health Check services. We are among the first companies to introduce the contemporary unit-linked products. We believe that an insurance solution should be an informed purchase and a lifelong relationship.

Events