HSA Providers

[KENDA FINK Participant]

We are finally implementing an HDHP and an HSA.    Do you use a TPA or a bank to administer the HSA accounts?  What do you like/dislike about your choice?  Would you recommend your provider?  Thanks for your input!

[Matthew Becker Participant]

Kenda,

At Hexagon, we have an HSA and it is managed through Westgate Bank.  Honestly, we have not had any issues and Danielle Doerneman, our WGB Business Solutions contact has been great.

Matt

[KENDA FINK Participant]

Thanks Matt!  You are the second person to say that they use West Gate Bank.  Have you had any issues with having your FSA and HSA administered by two separate providers?

[Darci Isherwood Participant]

Like my friend Matt, we too use West Gate.  Amber Holmberg is our contact.  They’re very good.  I’ve had no issues with them.  It’s a simple process:

1.  EE completes form which I send to Amber along with a copy of their DL.

2. Amber sends me paperwork that needs to be signed; I get with EE, get it signed and send back

3.  Amber emails when the account is open with the account number

Easy peasy!!

[Matthew Becker Participant]

Kenda,

No…We have very small population that utilize FSA, HSA is the lions share and no issues.

Matt

[Darci Isherwood Participant]

Oh, and I know you didn’t ask, but we have separate providers for our HSA and FSA.  We have maybe 4 people in the FSA so it’s not a big deal to send their stuff to a separate provider.

[KENDA FINK Participant]

Thanks much Darci!!

[Toni Simons Participant]

I have a question on Benefits.  We are a small company that currently do not provide benefits.  We are looking into it at the moment but we need pricing and services provided.  We went through our Business Insurance provider but I need to find other entities to provide comparative pricing and I have no idea where to look.  Can I go directly to BCBS? Under the AHA I am unclear about where to start.  Any suggestions would be greatly appreciated.  Thanks

[KENDA FINK Participant]

Hi Toni,

You can try to go directly to BCBS but I doubt they will work with you directly.  Most of the time they like to work through benefits brokers.  A couple of great local choices are Midlands Financial or SilverStone Group.  Both are typically paid for by the insurance plan, so you shouldn’t have added costs by working with them.  I’ve worked with both and they are terrific.  Midlands is in Lincoln.  SilverStone is in Omaha.

[Toni Simons Participant]

Good Morning Kenda….thank you for the response. You have helped point me in the right direction. I had no idea there were Benefit Brokers out there these days.

Thanks Again.

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