Florida Banking September 2023

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not equipped with built-in education that enables HR professionals to help their employees to get the most out of an HSA. While HSAs have existed for 20 years, many people confuse them with other tax advantaged accounts like FSAs or HRAs. They also don’t understand that HSAs are designed for long term savings, causing them to ultimately miss out on the benefits these accounts provide from both a cost savings and financial planning perspective. Working with a provider that provides educational materials for HR administrators and account holders and folds education into the product experience can make a key difference in levels of account participation, ultimately driving higher levels of HSA deposits. Partner with a forward-thinking HSA provider for success In order to take advantage of the benefits of offering an HSA to commercial customers, financial institutions need to choose the HSA provider that they partner with carefully. A successful partner needs to be able to take on HSA administration, employer and account holder onboarding, offer responsive customer service, and up-to-date technology, including a mobile app, in

order to offer customers the type of experience they expect in a modern financial product. By offering a competitive product that meets the diverse needs which are currently top-of-mind for your commercial customers (and their customers, i.e. their employees), financial institutions can attract more high quality commercial customers, boost retention, and increase their revenue. An HSA product enables you to deepen a current relationship or initiate a new one, and cross sell other products to them and their employees in the future. Adam Berry oversees Lively’s Financial Institution Partnerships channel and works with banks across the country to develop and implement HSA product solutions. Over the last 20 years, Berry has gained a significant amount of HSA experience working for national TPAs and creating HSA programs within brick and-mortar regional banks. HSAs are a personal passion of Berry’s, and he specializes in bringing entities together to discuss transparent, unique and innovative solutions that result in a better way to do business, increase revenue for Lively’s banking partners, and improve the lives of their mutual customers.

JANUARY 24, 2024

during the 2024 Legislative Session and spend a day at the Capitol discussing important banking and economic issues with Florida legislators. The day ends with Capitol Night—a dinner held at FBA headquarters.