In November 1999, my life changed. My mother died from cancer, and I became guardian of my father who had Alzheimer’s disease. Over the next seven years, we experienced the challenges all families face while caring for those afflicted with this debilitating disease. One of the most difficult aspects of that journey for our family was the financial cost to provide care for a loving father, brother, husband and veteran.
Writing $6,000 checks each month for his care was an eye opener. Thank goodness he had some savings; however, he still nearly ran out of money.
Even though my career spans many years in health care, financing it became personal to me. So, when Health Savings Accounts (HSAs) were created in December of 2003, my ears perked up.
The very idea of HSAs is a great way to incent individuals to take more ownership of their health, which almost by default engages them in living a more health conscious lifestyle. That said, many employees who are now covered by HSA-qualified High Deductible Health Plans do not even open an HSA. Many do not feel as though they have any additional income or avenues to fund their HSA.
My HSA Rewards was created with that in mind. It is a free program designed to add more money to an HSA by contributing tax deductible* cash back rewards on purchases from participating companies such as ProFlowers.com, Target.com, HomeDepot.com, Nike.com, GAP.com, Staples.com, BestBuy.com, Overstock.com, and hundreds more. Today, we have over 350 participating merchants, all of which are online; however, we are actively developing a network of offline/in-store merchants and are continually seeking out new merchant partners.
If you would like to fully engage your employees in the Consumer Directed Healthcare (CDH) arena and help them supplement their contributions to their HSA simply by shopping for everyday needs, introduce them to My HSA Rewards. While we can direct your employees’ rewards to any HSA custodian, we are pleased to have existing relationships with U.S. Bank, First HSA, HSA Bank, The Bancorp Bank and PilotHSA. As many of us in the CDH space know, it is in the cost of health care and addressing the financing of health care that we as a nation will be able to control the direction of our health care.
Some costs can be reduced immediately.
My HSA Rewards is proud to work with CDHC Solutions magazine to help create a community that provides answers to employers that are creating Consumer Directed programs for their employees; therefore, we are participating in the upcoming CDHC Solutions Forum in Atlanta on September 9.
Together, we are proud to offer a complimentary prescription savings card. Our pharmacy card is a free discount/savings card created to reduce the cost of commonly used prescription drugs. The card does not replace insurance, but is used as a supplement to your pharmacy benefits, as your pharmacy benefits typically do not cover all drugs. In addition to saving up to 75%, our card provides additional cash back rewards to MY HSA Rewards members. No other card in America offers this feature. Visit www.myhsarewards.com/home/CDHC to get your free prescription savings plan and learn how to get this card for your employees.
Most employee incentives cost you money. Here are two that don’t.
Incentive #1: Prescription Savings Card
The My HSA Rewards program offers a complimentary prescription savings card that will allow users to reduce the costs of commonly used prescription drugs by up to 75%, including many typically excluded drugs. The card is a supplement to pharmacy benefits and does not replace insurance. To get this complimentary prescription savings card for you and your staff, or for more information, please visit www.myhsarewards.com/home/CDHC.
Incentive #2: My HSA Rewards
If your company provides employees with the opportunity for an HSA, you will want to explore the complimentary HSA rewards program. My HSA Rewards is designed to help your employees contribute more money to their HSAs simply by shopping—with additional cash back rewards when they use their prescription savings card. For more information about My HSA Rewards, reviewour advertorial on the opposite page and visit us at www.myhsarewards.com/employers.