HSA Investment Accounts

By Roger Travis
Founder of ExperienceLab Inc.

Less than 10% of all HSA holders have opened investment accounts – an underused benefit and lost opportunity for multiple stakeholders. If you want to increase the investment account participation of your employees, look at the new Persona^tm research insights ExperienceLab has searched out.

The new insights clearly identify groups of employees who most want to open an investment account with funds in their HSA. And, ExperienceLab can provide you with a list of your employees in those groups. This new information is a game changer that allows you to create communications that go to the right people so you can take orders for new accounts rather than just explain the basics.

Attitudinal insights provide target guidance

The chart below represents data gathered by ExperienceLab in survey research of HSA account holders nationwide. Each of the individual bars represents an attitudinal segment of employees where, according to national research, the height of each bar represents the percentage of the segment that already owns an investment account. The thin blue line across the chart indicates the percent in each segment who answered positively to the research question, “I would like to start an investment account with the money in my HSA.”

This chart reveals four groups of employees (Segments 2, 4, 6 and 7) whose interest in having an investment account far outstrips the number who have already opened an account. For example, in Segment 2 (represented by the bar furthest to the left), over 25% of employees would like to start an investment account with money in their HSA, while only 5.7% already have done so. Thus, some 20% of this group are active prospects for a new investment account. Similar gaps exist for Segments 2, 4 and 7.

If you are looking to increase the use of these accounts, these four Persona^tm groups are the ripest opportunity for marketing purposes and should be the highest priority targets for uptake communications.

Insights available for your business

You can use these attitudinal insights and others that ExperienceLab has searched out about HSA Investment Accounts. We make these available to you by appending the attitudinal insights to a copy of your employee list. ExperienceLab’s analytical team does this appending in less than 2 weeks, including online training for you in the use of the insights.

The appended Persona^tm insights enable you to identify the specific employees in each attitudinal group. This allows you to select employees most likely to welcome HSA Investment communications and also to create powerful attitude-personalized communications, proven to increase response and conversions. 

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