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This is Chris Redgrave for Zions Bank Speaking on Business.
Medical costs are on the rise across the United States. As a result, many companies are choosing high-deductible health plans.... That leaves people needing a way to save money for medical costs, which is where health savings accounts make sense...... And administering these accounts is what Steve Neeleman Founder and CEO is doing through his company, Health Equity...
Steve founded Draper-based Health Equity in 2002 and now works with some of the largest companies around the country administering health savings accounts....Their customer base includes 23,000 businesses in all 50 states, allowing them to manage over a billion dollars in HSA deposits ... That covers a lot of people in the United States. Health savings deposits are also on the rise. From June 2012 to June 2013, total HSA contributions soared to over $16 billion, according to investment firm Devenir.
The qualification for having a Health Savings Account is a high-deductible health plan. Money placed in an HSA can be in an FDIC-insured account or it can be invested...Health Equity has 60 partnerships with health plans, and has educational tools available on their website for people who want to learn more about HSA accounts and how it works.
Their website, healthequity.com, has a great educational section that will tell you everything you need to know about health savings accounts... They offer remarkable tax benefits — plus, Health Equity offers 38 mutual funds people can invest in, so they won't be paying taxes on their savings account growth...
In addition to finances, Health Equity also works with health insurance plans to make the connection between the plan and HSA account smoother. Virtually any size business can use the service.
Word about Health Equity's services is spreading. Recently Utah Business magazine named Health Equity as One of the Best Companies to Work for in 2013. President and CEO Steve Neeleman also won Entrepreneur of the Year award earlier this year ...
Speaking on Business is now on video. Check out the video edition of our radio program on the Zions Direct TV You Tube channel. That's Zions Direct TV.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Health Equity 15 W. Scenic Pointe Dr., Ste. 400 Draper, UT 84020 801-727-1012; www.healthequity.com www.healthequity.com