BPAS, a leading national provider of retirement plan and fund administration, transfer agency, collective investment fund, and other institutional trust services, is pleased to announce the release of our next generation BPAS Health Savings Account offering. This proprietary build off of our nationally recognized daily valuation recordkeeping platform is ideally suited for BPAS’ 401(k)/403(b) clients. With single sign on, an open architecture investment platform that mirrors the plan sponsors’ DC plan offerings, combined statements, and integrated online and onsite participant education, the BPAS HSA serves the participant spenders and investors alike. There are no requirements for low-yielding money market or bank deposit balances. Participants invest first dollar and choose from an array of investments selected by the advisor, and they have debit card access to their account.
We have leveraged our retirement outsourcing service to provide for HSA online enrollment, contribution rate changes, utilization reports, and targeted messaging, making it easy for our plan sponsors to adopt. We believe the industry is ready for fee transparency, a fiduciary level of service, multi-disciplinary financial literacy, and benefit administration outsourcing.
“The cost of retiree medical is overwhelming, and many participants who have successfully saved in their 401k/403(b) are ill-prepared for the costs of Medicare and other medical expenses.” Barry Kublin CEO, BPAS, states. “The unique tax benefits of HSAs effectively complement traditional retirement savings, and we believe such guidance is more effectively delivered by financial advisors.”
For more information about the BPAS HSA, please contact Karni Adamson at 206-937-1124 or [email protected].