Alegeus, the market leader in consumer funding solutions, today announced it will launch its next-generation HSA investment solution at the 2021 Alegeus Client Success Summit, June 15-16. An extension of the Alegeus HSA experience, the investment solution goes beyond anything currently available from an HSA provider, with features like real-time and fractional trading, a fully automated robo advisor, and a full range of investing models for every investor experience level.
“HSAs are designed to be saving vehicles, yet most consumers today use them as spending accounts and are not disciplined about saving for the future,” said Mark Waterstraat, chief customer officer at Alegeus. “This new modern investment experience, coupled with other capabilities like our high-yield banking model, will empower consumers to achieve financial wellness, supporting them through all phases of their healthcare journey – spending, saving and investing.”
Built by a deeply knowledgeable HSA and investment product team – and powered by DriveWealth, a global leader for API-driven, cloud-based brokerage infrastructure – the Alegeus investment solution builds on the company’s Smart Account strategy, with an impressive modern investment stack:
- Fully embedded investment experience (available on both mobile and desktop) that is native to the Alegeus platform and does not require redirecting consumers to a partner site
- Simple, intuitive interface akin to other modern investment tools on the market
- Three distinct investing models – managed (robo advisor), self-directed and brokerage – for a tailored investment experience that meets the consumer where they are
- Exchange-traded funds (ETFs) that give consumers lower costs and diversified market return
- Fractional trading up to 8 decimal points, providing micro share access (as little as $.005, for example) to high-value stocks like Berkshire Hathaway Class A, which currently trades around $440,000 a share
- Convenient features, such as auto-rebalancing, real-time account opening and trading, and historical performance of available funds
Consumers receive alerts when eligible to invest, and they can open an investment account immediately, moving funds back and forth in real-time. Within the Alegeus portal and mobile app, consumers gain full transparency into assets and allocations, and real-time insights as fund values change throughout the day. Ongoing Smart Account guidance proactively offers recommendations as balances grow, allowing for greater account engagement, satisfaction and retention.
“We’re proud to disrupt the HSA market with a true health and wealth experience that will serve as a differentiator for our clients in an increasingly competitive space,” Waterstraat said. “This new investment solution is one part of a broader series of HSA enhancements that will allow our clients to compete in the market with a value-differentiated, best-in-class HSA solution.”
Alegeus clients have already begun to recognize the new investment experience as the game-changer it is for brokers, employers and the 75M+ commercially insured Americans that have access to the Alegeus HSA.
“There’s only one thing you can say about this new investment experience, and that is ‘Wow!’” said Bob Davis, president of Rocky Mountain Reserve. “We believe this gives us an incredibly differentiated HSA offering – something that is a step above any other solution out there. The market for HSAs is incredibly competitive, and this gives us the capabilities to compete with anyone, including the big-name national HSA-focused banks and investment providers.”
To get a first look at the new Alegeus investment solution, register here for the 2021 Alegeus Client Success Summit.
Alegeus is the market leader in consumer funding solutions, delivering the industry’s leading white-label platform that transforms how consumers save and pay for healthcare. Our next-generation technology simplifies the administration of consumer-directed benefit accounts and COBRA, and leverages data-driven insights to guide consumers to the best coverage, cash and care strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and lead consumers to better health and financial decisions. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.
A pioneer in fractional investing and embedded finance, DriveWealth has built an API-driven, cloud-based brokerage platform that is transforming the investment landscape by democratizing access to U.S. equities for investors domestically as well as abroad. With more than 90 partners in over 150 countries around the world, DriveWealth’s mission is to reshape retail investing by enabling banks, global brands, and fintechs to provide investment access and advice to underbanked and underserved customers that was previously only available to the wealthy. For more information, please visit drivewealth.com.