When it comes to selling health benefits, there is no easier plan to sell than a Health Spending Account or HSA.
Members can choose from a wide variety of eligible expenses. There are no plan limitations and contributions are considered a tax deduction for employers as well as tax-free for employees. In a sense, HSAs sell themselves.
Let us take a closer look at exactly why you should be selling HSAs as a Benecaid Advisor:
Passive Income
Because HSAs essentially sell themselves, they require minimal effort on the part of advisors, and this, in turn, can provide an essential source of passive income for you. Still, employers and employees benefit too, making it win-win for everyone.
HSAs are especially popular among small business owners and most entrepreneurs who decide to go with an HSA like how they work and elect to keep their plans from year-to-year. This provides an auto-renewing form of income or residual income for you every year.
Unique Tool
You would be surprised at how few people know about health spending accounts. In fact, many business owners make many incorrect assumptions when it comes to an HSA: typically thinking they have to be used with mandatory insurance or that they are not available for their particular business.
As you know, HSAs are widely used by a vast range of Canadian business owners. Similarly, they are particularly beneficial to small business owners. Understanding HSAs and their many different uses can set you apart from other advisors. Considered a known tool that helps you easily solve many clients’ unique problem of providing sufficient and quality benefits for their employees.
Tools to Help You Sell More HSAs
Benecaid provides several unique tools to help you sell HSAs with greater ease. All of these tools are available on our website.
The Benecaid Advisor Resource Centre
The Benecaid Advisor Resource Centre can be found here. It provides HSA videos, articles, sign-up forms, brochures, and more on a variety of topics. The videos are succinct, short, and easily shareable. There are numerous infographics available for you and your clients, and all content is completely shareable. These are excellent tools for lead generation within your sales pool.
HSA Calculator
The HSA calculator can be found here in the middle of the page. This is an extremely useful tool for both you and your clients. It can be used to help calculate how much an individual usually spends annually on their current and future medical expenses, so that predict an adequate contribution amount.
Furthermore, it can help you see how much an individual can save vs. the medical tax credit. Results from the HSA calculator can be printed or emailed for future reference as well.
Learn More About Selling HSAs
HSAs are an extremely beneficial tool for you, your clients, and their employees. The amazing flexibility, essential coverage, and tax deductions make HSAs a far-superior, sought after benefits plan for employers.
To learn more about health spending accounts, contact our Benecaid Customer Care Team at customercare@benecaid.com or by calling 416-626-8786. Don’t forget to also visit the Benecaid Advisor Resource Center.
For Benecaid’s Health Spending Account terms and conditions please click here.
