Wednesday, February 4, 2009

Happy New Year!

This is my first blog entry since the beginning of 2009, and rest assured things have been busy here at HealthEquity! We have been amazed to see, that despite the economic downturn, HealthEquity members seem to be saving more money in their HSA’s than ever before. Millions of people have already opened HSA’s in 2009, and the assets in these accounts are growing. January’s enrollment will post great numbers within the next couple of months—it will be exciting to see the growth that we are seeing, documented on a national basis.

On a second note, I continue to be amazed at the amount of time it takes for my medical colleagues to embrace HSA’s in their own offices. I was reminded about this on January 2, 2009, when I took my 16 year old daughter to get an MRI (she had brain surgery when she was a baby, and has been having headaches—thankfully the MRI was normal). I decided to offer to pay for the MRI at the time service was rendered, provided the radiology shop could provide me the correct price. Unfortunately, yet not surprisingly, no one knew what to charge me for the exam. I went out of my way to call the manager and let him know that with a little effort, his staff could save him about 6 weeks of accounts receivable and me the hassle of having to pay the bill at a later time by simply collecting the right amount at the time of the MRI. To his credit, he came to meet with me a week later and informed me he is already training his staff to on how to manage HSA accounts and clients.

Things are moving along and progressing well in this crazy world of HSAs!

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