FAIRPORT, N.Y., Nov. 29, 2017 /PRNewswire/ — Health Savings Accounts (HSA) are underfunded, underused and underappreciated, contends Kevin Vail. That’s changing, due to NestUp Managed Deferrals®, a platform that helps employees make smart decisions about health and wealth contributions. Vail, an HSA pioneer in the financial services space, joined Perspective Partners, LLC as Vice President of Business Development in June 2017 to promote the company’s holistic benefits platform.
Previously, Vail was an executive with M&T Bank’s HSA division and worked in benefits consulting. At Perspective Partners, he joins an experienced team dedicated to bringing the innovative NestUp® decision-support platform to employers and employees to empower stronger health and wealth benefit management. He joins a team with deep experience, including David Creen, a veteran of BenefitFocus, who seek to help employers transition to high deductible health plans and HSAs.
“NestUp Managed Deferrals® provides personalized, decision making guidance to employees for their HSA and 401(k) contributions,” Vail says. “It educates employees about contributions and the importance of health and retirement investing.”
When the open enrollment period rolls around, NestUp Managed Deferrals® is a game changer. Employees gain a unified view of their health and retirement contributions and can implement their decisions with two clicks though NestUp®’s online portal.
Leverage Payroll Tax Savings
When employees gain transparency about their health and wealth benefits, they typically increase their contributions. Those decisions lead to savings on payroll taxes for themselves and their employers. Funds previously spent on taxes can then be directed into employer and employee HSA contributions and 401(k) matches and contributions, optimizing benefits without additional contributions.
NestUp® packages everything together in a seamless, easy-to-use interface so employees can finalize their benefits decisions in minutes.
“NestUp Managed Deferrals® takes the burden off employers and employees, infusing simplicity into a previously complex process,” says Vail. “It also helps benefits brokers and advisors, because of the education value-add benefit.”
Invest in NestUp Managed Deferrals®
Vail, who has been educating employers and employees about HSAs since the tax law implemented them in 2004, believes that now is the perfect time for employers to invest in their employees through this platform.
As health care costs climb, employers seek ways to curb costs. High deductible health care plans with HSAs keep costs down, while providing employees with tools to manage their health care expenses now and in the future. NestUp Managed Deferrals® offers a way