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StreetWise HSA(SM) Launched Nationally: First Low-Cost, Customizable Platform for Employee HSA Education
Date:5/18/2009

Employers Use Product to Shift Employees to HSA Plans and Cut Costs

AMHERST, N.Y., May 18 /PRNewswire/ -- StreetWise HSA(SM) is the first one-stop, low-cost, customizable platform for employee HSA education. StreetWise HSA (SM), which is now available nationally, is helping employers positively transition their employees to Health Savings Account plans and cut costs.

StreetWise HSA(SM) is the only employee HSA education platform that:

  • Delivers an online HSA Savings Calculator which is customized to the specific health plan designs, premium costs, and HSA contributions of each employer group. It incorporates plan deductibles, co-pays and coinsurance, out-of-pocket limits, category-specific deductibles and category-specific coverage caps. Employees can calculate their actual savings from switching to the HSA plan they are offered in about a minute.
  • Centralizes and integrates key decision-making information which has typically been in three different silos: the health insurance company, the HSA trustee, and the employer. This makes it easier for employees to understand and be comfortable with the HSA health plan.
  • Reproduces the onsite group meeting experience for spouses in a high quality, 24/7 accessible way, which is vital to employee adoption. The platform includes a tailored, multi-media HSA presentation, employer-customized FAQs, employer-customized enrollment instructions, and the HSA Street Guide, which is a detailed reference database on HSA regulations and how to use HSA health plans on a day-to-day basis.

With the economic downturn and in response to rising health benefits costs, employers know they need to transition their employees to consumer-directed health plans (CDHPs), such as HSA plans. Mercer's just completed survey suggests that the percentage of employers offering CDHPs could double in 2010, with more than a fifth of all respondents - 22 percent - planning to adopt these plans. With premiums 25%-40% lower than traditional health plans, HSA plans can be designed to save employers thousands of dollars per employee.

The challenge in positively transitioning employees to lower cost HSA health plans is education. Few employees truly understand these plans. While 6.1 million people are enrolled in HSA plans through their employer (per the latest AHIP survey), this is out of approximately 60 million employees offered these plans. StreetWise HSA(SM) solves the employee education challenge for employers.

StreetWise HSA(SM) is available in Basic (FREE) and Premium level packages. As a special introductory offer, the Premium package, which includes the customized Savings Calculator, is also FREE for the first year at http://www.StreetWiseHSA.com. (Subscriptions normally range from $40 - $200 per month, depending on employer size.)

About Manning & Napier Information Services

StreetWise HSA(SM) is a product from Manning & Napier Information Services (MNIS). Founded in 1995, MNIS has developed an array of innovative technology and service solutions for Fortune 500 companies, the U.S. government, and the small and medium-sized business markets. MNIS has extensive experience with benefits management and employee education, including implementing HSA health plans for manufacturing, technical, service, professional, and municipal organizations.


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SOURCE Manning & Napier Information Services
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