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Summarized Need-To-Know About Digital Customizable Benefits (myASO Plans)

Updated: Jul 27, 2020


myHSA held a webinar about myASO, a plan on the system that allows employers to customize employee benefits, add pooled/fixed amounts & add caps/limits down to sub-category items. A happy medium between traditional insurance and HSA - we have summarized our webinar for advisors, as a tool and quick cheat sheet, below:

  • There are two important stakeholders in the landscape of benefits: Employers and Employees. Employers are juggling the needs of a multigenerational workforce thus a wider range of benefits desired beyond health insurance. Employees are looking for flexibility, higher personalization, and easy access (digital digital digital).

  • Hybrid plans! Advisors need the ability to customize benefits for each company - but finding platforms that can do this digitally is difficult. We've built it.

  • We began with HSAs, then moved onto to WSA, Flex Plans and now myASO. We've had advisor growth all over the country and made sure to always listen to product needs. Now we are adding other digital partners in the form of EAP, Telemedicine, and Charitable Donations. myASO is a great solution, especially for larger groups that want a step-up from regular HSA/ WSA/ Flex offerings but still want a self-funded model.

Highlight of Major Features Within myASO

Employers can pick and choose eligible items from the HSA and WSA expenses item list.

The following plan amount options are available:

  • Fixed - per family member maximum (like a traditional insured plan)

  • Pooled - credit per family member which is then pooled (eg. family of 4 @ $500 per member = $2000 for whole family)

  • Combined - family maximum, a flat amount for whole family

The ability to set group expenses and setting a maximum for expenses:

  • adding maximums from 1-160 months (eg. $250 per employee for 24 month period)

  • (eg.) setting up basic dental at 100% co-pay with its own expenses and maximums

  • (eg.) ability to have orthodontics at 50% co-pay with its own limit

Essentially the myASO plan can mimic all the customization, maximums, limitation and amounts of a traditionally insured plan while maintaining all the flexibility and self-funded aspect of a myHSA plan which can include taxable, non-taxable and flex options. It really is the ultimate in customizable benefits!


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