Paul Timm, Vice President of NAFCU Services, sits down with Steve Christenson, executive vice president at Ascensus, to discuss challenges and opportunities facing credit unions that look to their Heath Saving Account products as a benefit to retaining existing members and attracting new ones.
One of the top issues facing credit union members is the cost of health care throughout their lifetimes. It affects the millennial who is transitioning from their parents’ policy and beginning to raise a family. It affects the Gen Xer who is in the middle of their career, raising their children and saving for career or tech school, or possibly transitioning into a role of taking care of mom or dad. It affects the baby boomer who is approaching or in retirement and trying to balance Medicare and other care expenses without the employer medical plan behind them.
As credit unions seek to retain members and attract new ones, the health savings account can be a key outreach tool by providing education regarding its value at all life stages and the tools to allow those saved dollars to work for all generations.
Listen to part one of this podcast series by clicking here.
Ascensus is the NAFCU Services Preferred Partner for IRA, Retirement Plan, and Health Savings Account (HSA) Solutions Software, Training, Documents and Consulting. More educational resources and contact information are available at nafcu.org/Ascensus.