As we celebrate the 10th anniversary of the enabling legislationfor HSAs, the industry, employers and brokers/agents all have theopportunity to move HSAs forward, beyond basic administration, withthe use of insightful reporting and analytical tools. Inparticular, as brokers continue to strive to prove their worth toclients, reporting offers a real opportunity to serve in aconsultative role that can make a positive impact on their clients'bottom-line.

Essentially, account reporting can provide the insight necessaryfor employers to not only see exactly how their employee accountsare being used, but also allows them to react and positively impacta desired outcome. In order to fully realize the benefits of theseaccounts and influence employee behavior to improve wellness andultimately lower health care costs, employers need to have thesupporting data and applied analysis to make those informedchanges.

We view reporting as a three-step process:

  1. First, the employer will need to obtain the data in a usableformat. While this sounds straightforward, many administrators haveyet to develop or supply adequate reporting tools and analysis.It's important to consider this capability when selecting an HSAadministrator.

  2. Second, the data needs to be analyzed and applied to theemployer's specific situation.

  3. Third, the employer needs to take action based on what the datais revealing.

These steps can appear fairly straightforward, however, the normwith data reporting has often been to review the data and file itaway.

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