November Advisor Newsletter
Why would an employer offer a WSA?
Peering through their financial lens, many accountants (and some advisors) may scoff at the concept of a wellness account. Simply viewing it as an alternative to salary misses the value of the benefit as a means of attracting and retaining employees.
Let us know about your experience with myHSA
Your kind words go a long way – our company has grown to where we are today, primarily through word of mouth!
We would love to share why you love myHSA – whether it's the people, the quick response time, the claim process, whatever! Please let us know so we can continue to focus on what really matters, your experience!
Introducing our latest add-ons
Offering employees unlimited access to the wellness providers they choose over secure, live-video connection.
Through the Employee Wellness Plan (EWP), users can: Search for and book virtual sessions with providers using Cyno's secure and encrypted video, messaging, and document-sharing interface. Access fitness, nutrition, & mental wellness virtual offerings, including: mental wellness councillors, registered dietitian, personal trainers, yoga, & more!
ALAViDA is the first digital solution for alcohol & substance use that creates healthier workplaces from the inside out.
Did you know?
10% of employees will experience challenges with substance use.
Are you offering your clients the right tools to support their team?
Early intervention with different levels of intensity to choose from: From a self-guided path to the regular support of a therapist specialized in addiction and optional medication management. More comfortable for employees: Cost-effective for employers. Virtual delivery that is 100% private and confidential, accessible from any device. Helps employees take care of their mental health and keep productive: Especially post COVID when there has been an 18% rise in alcohol consumption.
Reduces the risks of expensive critical events: Intervening ahead of disability claims when issues are still invisible to plan sponsors.
Head to your marketing tab in your advisor portal, and check out our latest add-ons to design comprehensive employee benefits packages!
Resources We Love
Stay in-the-know with our featured questions & answers
Will you notify my clients when it's time to allocate?
All plans on the myHSA system will automatically renew based on the schedule you’ve designed. New funds will automatically update the employees’ current balance, while existing funds roll into carryover or reserve (depending on whether a credit carryover provision is in place).
All employees receive renewal reminder emails letting them know to submit outstanding claims dated in the previous benefit year leading up to renewal and for the duration of the grace period after renewal. At renewal they receive an email letting them know new funds have been added and that they can begin claiming for the new benefit year. If the employee is on a myFlexplan they will be notified at renewal that they need to login and allocate their funds for the new benefit year. If no allocation is made, two reminder emails are sent near the end of the window. If no allocation is made after 30 days then funds will automatically default based on the plan design (typically 100% to HSA).