Little Rock, Arkansas (May 2, 2018) – As the HSA market steadily continues to grow, more third-party administrators (TPAs) are looking to add HSA management services to their portfolio. A new whitepaper published by DataPath, Inc. addresses common TPA concerns about entering the HSA market: revenue opportunity, workload, and the need to juggle multiple business and banking relationships.
The whitepaper, entitled “How TPAs Can Overcome Potential Pitfalls to Deliver a Unified HSA Experience and Maximize Earnings,” also examines various technology solutions available for HSA management services. Some platforms promote flexibility with options that require a multitude of additional vendor relationships. Depending on the administration setup, this can lead to additional work for TPAs, and frustration for employers and account holders.
The whitepaper analyzes HSA profitability potential and proposes that a turnkey, all-in-one solution which offers HSA administration, custodial banking, and integrated investments may provide a better overall experience for everyone involved.
“Many TPAs are looking to join the HSA market. Administering HSAs can be highly profitable, and they need the right solution to offer a first-rate experience to their clients and account holders,” says Bo Armstrong, chief marketing officer at DataPath. “With so many platforms out there, evaluating the possibilities and what each means for their business is crucial to a TPA’s success.”
About the company: For 40 years, DataPath has been a pivotal force in the employee benefits, financial services, and insurance industries. The company’s flagship DataPath Summit platform offers an integrated solution for managing CDH, HSA, Well-Being, COBRA, and Billing. Through its partnership with Accelergent Growth Solutions, DataPath also offers expert BPO services, automation, outsourced customer service, and award-winning marketing services.