The burden is shifting.
Health care costs in America are exploding. Every day, 10,000 people enroll in Medicare, the public health program for the elderly. The program spends more on each enrollee than was contributed, meaning that the program runs at a deficit.
As is the federal government. We’ve been deficit spending – spending more than we’ve been bringing in through taxes, interest, etc. – since the Clinton administration. We’ve had to borrow money to make up the difference. The portion of the federal budget that is growing the fastest is interest payments.
Meanwhile, we’ve expanded health care access and options through the Affordable Care Act. Medicaid expansions, mandated coverage offerings and subsidies are costing billions of dollars a year. Myriad other problems plague the system, including over-utilization (i.e. too many unnecessary tests and surgeries) and a lack of price transparency.
But the biggest problem is that Americans are unhealthy. About 70% of Americans are overweight or obese. Obesity correlates to almost every chronic illness, from diabetes to dementia. When 90% of our health care costs are associated with treating chronic disease…well, we have a serious problem.
Consumers are going to bear more and more of the brunt of this financial crisis. A larger portion of your money is going to be spent on health care, and it will increase as you get older.
We love HSAs!
What’s the best way to fund all of these out of pocket expenses? A Health Savings Account! When you enroll with us, we match your financial capabilities and goals with the plan that’s right for you.
We’re thinking about HSAs in a whole new light. We’re the first company to categorize HSA customers based on their investment strategies. Work with us to find out if you are a:
- UTILIZER: These customers leverage the pre-tax benefits of an HSA to pay for their medically-approved health care expenses. We encourage these individuals to over-commit to the fund, because, unlike an Flexible Savings Account, any funds not used in an HSA each year simply roll over to the next.
- MAXIMIZER: Maximizers want to max out their contributions to leverage the tax benefits of an HSA. They may not use the HSA to fund their out of pocket (OOP) expenditures, and instead pay for those above and beyond what they invest in an HSA.
- COMBO: These folks may be able to run your OOP expenses through an HSA every year, but can also save a little more. We believe that any small contribution today is a big investment tomorrow, so we work with these individuals to maximize their HSA contributions in context with their financial needs.
We're so much more.
We’re not just looking after your money. We’re looking after you.
Every Longitudinal customer will have the option to participate in a Longitudinal Health Assessment (LHA). This proprietary analysis fuses data from a physical exam, selected genetic tests and a lifestyle survey so we can make an educated projection of the diseases and conditions you’ll develop over the course of your life.
Once we do that, we can give you a better picture of what your OOP expenses should be. No other HSA performs this service!
But this isn’t just about helping you budget more accurately. We want you to better manage your health, longitudinally, now that you know what your risk factors are, and how they may play out in the coming years and decades.
That’s why we require our customers to update their health information on an annual basis. You’ll have a physical with the doctor of your choosing, complete the lifestyle survey and we’ll update your projections. We are committed to working with you for the long haul because health maintenance is a lifetime commitment. Data security is a priority and we do not share your data. Ever.
Any Longitudinal customer – Utilizers or Maximizers – can benefit from the Longitudinal Health Assessment. The healthier you are, the better it is for you, your family and everyone around you.
We look forward to serving you!
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