Making Healthcare Payments Better
Fact is:
Most HSAs were problematic from Day 1.
Despite being a structurally brilliant, well-intentioned solution, that both Democrats and Republicans support, the industry never got it right.
Messaging has primarily focused on the tax benefit.
HSAs from initial marketing communications, to registration, funding, usage, statements, customer service… are often difficult and poorly understood.
Studies show that a sizable proportion of HDHP enrollees do not enroll in an HSA or contribute to it if they had an HSA. ⅓ of HDHP owners do not have an HSA. ½ of those with an HSA do not fund it.
What are the current HSA providers missing about the needs of the consumer?
Need to save money for healthcare.
No kidding, right?
Well, as reported by the Federal Reserve, 1 in 3 Americans stated that a $400 unexpected medical bill is catastrophic. People must make saving for healthcare a priority. This is a MUST to do, not a nice to have. Funds must be set aside that are separate from paying for groceries, saving for a new car, or any other expenditure.
You play the lottery?
About 50% of Americans play the state lotteries every week. Despite the near impossible odds, millions of Americans religiously fork over an average of $1,000 a year on lottery. How do we take the best of the lottery and apply that to healthcare savings? How do we make saving for healthcare fun?
Saving and Spending
You need segregated funds for healthcare but you need to spend it. Spending on products and services which make or keep you and your family healthy is a good thing.
Keep it Simple
The messaging about the solution, the value proposition, how it works.. all that needs to be very simple.
Community
Americans love to learn about and adopt new solutions based on information from friends and family, trusted influencers, and trusted brands. Referrals matter.
Make existing HSAs better!
Prizelinked.ai provides access to its platform via well-documented APIs to issuing processors and healthcare payment providers.
Solution starts with developing a program to identify HSA account holders who have either not funded or not added funds within 12 months.
Introduce prizelinked.ai’s incentive-based activation reward.
Introduce prizelinked.ai’s incentive-based funding rewards.
Introduce prizelinked.ai’s incentive-based customer referral program.
Measure results.
What does HSA 2.0 look like?
