Lane Health offers breakthrough HSA solution.
Employers gain key recruitment/retention benefits and save on costs.
Lane Health, a company comprised of healthcare, benefits and finance leaders, launched a new Health Savings Account (HSA) solution that is disrupting the market. Unlike other HSAs, Lane Health’s solution provides real-time access to money people need for their healthcare with little-to-no contributions and at zero risk to employers.
“Lane Health’s innovative HSA makes high deductible health plans less scary, allowing them to work for more people – not just the few who can afford to contribute and save,” said co-founder and Chief Executive Officer Brad Gambill. “Employers need to offer viable healthcare benefits to employees while controlling costs. Employees want more affordable healthcare. Our exclusive solution is a win-win all the way around.”
Unlike others, Lane Health’s HSA provides a line of credit for employees whether or not they contribute to their HSA. “There is zero risk to employers,” said Scott Beck, Lane Health’s Chief Revenue Officer. “We provide inclusive, on-demand access to a line of credit within the HSA with no credit checks. Employees then have predictable payments through pre-tax payroll deductions. And employees and employers both benefit from tax savings.”
According to a 2019 Survey from GoBankingRates, the average family high deductible healthcare plan is $4,800 while 69% of Americans have savings of less than $1,000. This $3,800 gap can mean that healthcare needs go unmet, or worse, people plummet into situations that take them off the job and impact their lives. The Lane Health HSA mitigates the gap by helping make funds available to employees for healthcare when needed. Even when employees don’t contribute to the HSA, they can access funds and take up to 12 months to pay the funds back, pre-tax, saving taxes.
“Finally, in a space where there’s been virtually no innovation, this is a breakthrough HSA and it’s catching on,” said Sharon Cunninghis, Chief Development Officer. “Our highly flexible implementation approach allows this benefit to plug right into existing employer processes and systems. Plus, we deploy a proactive, guided approach to engaging employees at every teachable moment. Employees who choose a qualified plan can be automatically enrolled in our HSA, so no one is left behind.”
For more information on the Lane Health HSA solution, see LaneHealth.com or contact us at WeCare@lanehealth.com