Elevate Your Employees' Financial Health, Empower Their Well-being
In the fast-paced world we live in, ensuring the financial well-being of your employees is more crucial than ever. The Health Payment Account (HPA) is a groundbreaking solution designed to revolutionize how individuals manage their healthcare expenses. With its innovative approach, the HPA not only provides financial security for medical needs but also empowers employees to take control of their overall well-being.
Key Benefits of the Health Payment Account (HPA):
HPA is a new type of benefit called a Health Payment Account (HPA) that helps employees and plans members access and afford care.
Employees use their HPA cards to pay out-of-pocket healthcare and/or veterinary expenses2, tapping into a small line of credit to pay out-of-pocket costs upfront. After each transaction, they choose an interest-free payment plan that fits their budget.
HPA provides a revolving line of credit on a Visa card that members can use to pay out-of-pocket medical, pharmacy, dental, vision, and veterinary expenses.
As rising health insurance premiums and out-of-pocket costs make people more likely to skip or delay care, HPAs provide the funds necessary to address health concerns early. Proactive care is always cheaper and more effective than reactive care.
HPAs give members an immediate way to pay for the care they need, whenever they need it. They feel secure knowing they have a safety net in their HPA, which makes them more likely to go to the doctor, dentist, or other necessary provider!
Discover the Future of Financial Wellness Today:
Invest in the well-being of your workforce with the Health Payment Account (HPA). Contact our dedicated team to learn more about how the HPA can transform your employee benefits program and set a new standard for financial wellness.
In fact, 43% of HPA members* said they would have delayed or skipped addressing health needs if they hadn’t had access to their HPA card.
Help your employees launch an emergency savings program
We make it easy for HR professionals to integrate emergency savings as part of their holistic employee benefit offerings.
Assisting employees with an emergency savings account offers several benefits for both the business and its workforce:
- Financial Stability: It provides a safety net for employees, reducing financial stress and improving overall well-being.
- Improved Productivity: Employees with financial security are more focused and productive at work, as they're less likely to be distracted by financial worries.
- Retention and Loyalty: Offering this benefit enhances employee satisfaction and loyalty, leading to higher retention rates.
- Attraction of Top Talent: It sets your business apart as an employer that cares about its employees' financial well-being, making it more attractive to prospective hires.
- Reduced Turnover Costs: High turnover comes with recruitment, onboarding, and training expenses. Helping employees build emergency savings can reduce these costs.
- Enhanced Financial Literacy: Providing resources and support for emergency savings can help educate employees about personal finance, promoting responsible money management.
- Mitigation of Financial Stress: Employees with emergency savings are better equipped to handle unexpected expenses, reducing the need for employer-sponsored loans or financial assistance.
- Resilience During Economic Downturns: During economic challenges, employees with emergency savings are better positioned to weather financial difficulties without resorting to drastic measures.
Overall, assisting employees in establishing an emergency savings account not only improves their financial well-being but also contributes to a more engaged, stable, and productive workforce, benefiting the business as a whole.