As a technology solutions provider to the financial services industry, FPS Group has pioneered a full-service recordkeeping solution for Health Savings Account Plans specifically designed for investment management firms. We call this our HSIO Solution for Heath Savings Investment Only providers.
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As an HSIO, FPS can help you grow your business by managing all of the back-office details while you focus on marketing, sales and better serving your customers. Partnering with FPS to provide an outsourced HSA solution will help your clients save and invest tax-free for their healthcare and retirement expenses while allowing you to realize:
Fueled by concerns about rising healthcare costs, more and more people are turning to investment HSAs to save and invest for their future healthcare expenses.
That’s because HSAs offer triple tax benefits. Funds go into the HSA pre-tax (or tax-deductible, if contributed after tax). Investment earnings are not taxed in most states. And funds can be withdrawn tax-free for qualified healthcare expenses. This positions HSAs as the most efficient and cost-effective way to save for future healthcare expenses.
In addition, there’s a shift underway in who is responsible for selling employer-sponsored HSAs — that shift is from health and benefits brokers to financial professionals offering retirement services. The time has never been better for adding an HSA to your products and services.
Plus, with our platform, HSAs are no longer too high touch or high maintenance for investment providers and their advisor distributors to offer. We provide easy solutions for investments and trading, cash processing and customized debit cards, online account management as well as necessary administrative and recordkeeping services.