Transition to HealthEquity® HSA Fund Administrator

Transition to HealthEquity® HSA Fund Administrator
IU65 Market Segment Sales Training [Anne] Good ____________ [afternoon/morning] and welcome to the “Transition to HealthEquity HSA” sales training for the Individual Under 65 segment. Thank you for joining us today. Before we get started, I do want to let everyone know that we are going to be recording this session for the benefit of people who are unable to attend one of the live sessions. Now let’s take a look at our Presenters for today’s session…

Introductions Today’s presenters Peter Fournier Traci Parker
Project Implementation Traci Parker Product Management Julie Cates Marketing Communications Anne Miesel BCBSNC Master Trainer & Facilitator [Anne] Before we get started, we’ll take a moment to introduce ourselves—let you know who we are here on this side of the microphone. We’ll start with our subject matter experts. First we’ve got Peter Fournier who is a Product Developer at BCBSNC who’s responsible for implementation Traci Parker who is a Product Manager at Blue Cross who’s responsible for product and vendor management Julie Cates is a Marketing Business Consultant at Blue Cross who’s responsible for go-to-market communications And my name is Anne Miesel. I am a BCBSNC Master Trainer and I will be serving as the facilitator for today’s session.

Welcome! Agenda Why this change? When? Why HealthEquity? (Peter)
Member value and experience (Traci) Communications & enrollment process (Julie) Who to call for assistance [Anne] Here’s our agenda for today’s session… Peter will review why we’re changing administration of our HSA from BenefitWallet to HealthEquity, He’ll review who HealthEquity is and what they bring to the table as a vendor, Traci will review the benefits to the member and describe the member experience, then Julie will review the marketing communications materials available and the enrollment process. Lastly we’ll look at who to call for assistance

Housekeeping Submit questions via chat function Send To Send
[Anne] Now for a little housekeeping... During the session today, you’ll be able to ask any questions using the WebEx Chat function. We will monitor the chat panel during the session for your questions and will either answer them during the webinar or at the end during the Q & A session. If we’re not able to get to all of the questions in the time we have, we’ll follow up after the session with responses that will be distributed, along with a list of responses to Frequently Asked Questions, to everyone participating today. For those of you who may be unfamiliar with the Webex interface, you can open a Chat window by moving your mouse up to hover over the green tab you should see at the top of your screen. [Click] While the mouse is hovering over the tab, a toolbar will drop into view. [Click] Click on the text balloon with “Chat” written under it. [Click] This will open a floating Chat panel which you can drag to a position on your screen where your view of the presentation is not obscured. [Click] Once the Chat panel is open, you can send questions or comments to the panelists by typing your message in the chat area and then clicking the Send button just below the chat area. [Click] It will be best if you send your questions or messages to “All Panelists” so that all of our subject matter experts will be able to see them. You can make sure your question goes to “All Panelists” by clicking the drop arrow to the right of the “Send To” drop box [Click] and then selecting “All Panelists” from the drop list. You can also use the Chat function to let us know if you’re having any kind of technical difficulty during the presentation. Now that we’ve got the mechanics out of the way, we can proceed. I’m going to hand you over to Peter Fournier at this point for a discussion of why we’re changing our HSA administration. Peter… Send To Send

HSAs – A cost saving solution
BCBSNC HSA Assets (in millions) $140 $120 $100 $80 $60 $40 $20 $0 [Peter] Thank you Anne and thank you everyone for joining us today, my name is Peter Fournier, and… As you may know, consumer-driven health care is a rapidly expanding segment of the U. S. health care market, and HSAs are growing in popularity as effective cost savings solutions for consumers choosing high-deductible health care options. Here you can see the growth of HSA assets nationwide over the last decade or so in the chart on top. The total assets held in US-based HSA accounts has grown from just over a billion and a half dollars in 2006 to nearly twenty billion in And HSA assets are projected to increase by nearly ten billion more over the next two years! [click animation] As you can see in the chart at the bottom, growth in BCBSNC HSA accounts mirrors the National trend. National source: Estimate derived from Year-End 2013 Devenir HSA Market Survey.

Today’s CDHC requirements
Competing in today's consumer-driven environment demands: Simple, integrated products Choices and flexibility Better technology Competitive pricing Support and service that stands out [Peter] As a result of the popularity of HSAs – AND to capitalize on this growth to position us for the future – we need to be able to offer our customers: Simple, integrated health care products More and better choices and greater flexibility Better technology Competitive pricing, and Outstanding support and customer service [Next slide] Position BCBSNC for the Future

HSA transition IU65 customers Group customers [Peter]
So, Blue Cross is moving the administration of its Health Savings Accounts from BenefitWallet to HealthEquity. Late last year, Blue Cross moved its HRA and FSA administration to HealthEquity. So now, our Individual Under 65 members will have access to a integrated health savings solution upon their renewal in January 1st. Our group customers will transition upon their renewal starting November 1st. So I’m going to quickly review who HealthEquity is and what this transition means to you and your customers IU65 customers Group customers

Powerful, easy health savings solutions
Nation’s oldest, largest – and fastest growing – dedicated health savings trustee Best-in-class products Single, integrated administrative platform Online and mobile resources Acclaimed service and support Focus on education Helping members build health savings [Peter] So why HealthEquity? Bottom line. HealthEquity’s sole focus is helping people build health savings. It’s their wheelhouse. Nothing else. HealthEquity is the “nation’s oldest, largest and fastest growing health savings trustees.” That’s a mouthful in one sentence. So let’s break it down. They manage over $1.6 billion in health savings deposits, which makes them one of the largest dedicated health account custodians nationwide. They serve more than 1 million accounts holders, more than 24,000 companies across the country and They partner with over 60 health plans. So the proof of their experience and dedication is clearly in the numbers. Our relationship with HealthEquity will allow for true data integration. Unlike BenefitWallet , the HealthEquity HSA is fully-integrated with our high-deductible health plans – both eligibility and claims data are fed daily to HealthEquity’s proprietary technology platform. This results in a smooth customer experience with less hassles… and members can access and manage their accounts when ever and where ever they want through a powerful portal and mobile app. Last but not least, HSA members will have expert assistance, available around the clock, to provide assistance and insight for maximizing their health savings. So what plans are eligible? [next slide]

Qualified HDHP plans Five qualified high deductible health plans:
Blue Advantage Bronze 2700/5500 Blue Value Bronze 2700/5500 Blue Local with Carolinas HealthCare System Consumers who purchase these plans could qualify for our new HSA administered by HealthEquity. There's 2 Blue Advantage bronze plans with a $2700 deductible and a $5500 deductible There’s 2 Blue Value bronze plans also with a $2700 deductible and a $5500 deductible Lastly, the new Blue Local plan with deductible/coinsurance option is eligible for an HSA Julie will review how these members will learn about their HSA eligibility and how to enroll in the HSA, but now I am going to turn it over to Traci Parker who is going to take us through the member features and benefits… traci…

Member Experience [Traci]
Thank you Peter… so I am going to review all the value our members will receive with our new HealthEquity HSA…

More member value – earning potential
Tiered account interest rates Larger balance/larger rate Choice of deposit account Free Investment trades Best-in-class funds* [Traci] With HealthEquity, our members will immediately notice… Greater savings through higher interest rates which are tiered – so higher balances earn higher rates. As you can see here, with each balance tier, the interest rate doubles! BenefitWallet only offered .05% on all balances. So this is huge. Employees also have an option of a non-FDIC-insured money market account for even greater interest earning power. And while the investment minimum is slightly higher ($2,000), there are no investment fees and a greater number of best in class mutual fund choices. [point out how the interest doubles with each balance tier. Point out the higher interest on the money market account. then note that the specific funds shown here represents a sampling of available funds and is subject to change.] *Funds subject to change.

More member value - account control
HealthEquity member portal HealthEquity mobile app [Traci] Here is a screenshot of the new HealthEquity member portal where our members will manage their accounts. As you can see, it’s co-branded and recently revised with a new layout to make it more user-friendly and intuitive. And there’s a mobile app that will also allow members to: Access multiple accounts (HSA, FSA…) Upload and store photos of documentation for claims, Send payments and reimbursements, Submit claims and view claims status, and Manage debit card transactions. I do want to mention that the only thing that the mobile app does not do is allow them to manage their investments. That’s only available on the online portal. Now what’s new about the HSA member experience is that our plan members now have seamless access the portal through their BCBSNC member portal. The “Manage My Account” link will connect them directly to their account within HealthEquity portal with no additional log-in credentials required. Let’s take a look. [next slide]

SSO to HealthEquity [Traci]
This is a screenshot of Blue Cross’ new member portal homepage that will go live on January 1 called Blue Connect. You’ll hear and see more on Blue Connect in the months to come. Since our HSA transition is effective January 1, we wanted to show you how the link would appear in this new design. [click for animation] At the bottom you’ll see a square “tile” with the Fund Balance information. This amount is updated daily as claims are fed each day to HealthEquity. As mentioned, the “Manage Your Account” link here will seamlessly sign them in and take them to their account within the HealthEquity portal. SSO to HealthEquity

More member value – real service
Dedicated 800# for BCBSNC Live answer – on shore From simple help to complex health care account advice [Traci] If our customers need further assistance, the HealthEquity member service is a big part of why we chose to move administration of our HSA. Our BCBSNC members will get friendly and helpful support 24 hours a day, seven days a week, 365 days a year. Since 25% of calls come in at night or over weekends, this kind of ‘round the clock customer service coverage represents a significant value to our members. We have a dedicated 800# for BCBSNC members and all calls are live answer. The customer service team in Salt Lake City welcome any opportunity to help or educate members to take full advantage of their HSAs. Customer service is so central to their business model, that they boast a 86% employee retention rate, so their customer service folks, like Rosario here, are happy and stick around. Rosario, Member Services Salt Lake City, Utah 14

More member value – more free services
Monthly admin fee for BCBSNC IU65 members is FREE [Traci] For our individual Under 65 members, there are no monthly administration fees. BCBSNC covers this fee for our individual members and it includes services such as their debit card, annual tax reporting, customer service, online contributions, payments, investment trades, monthly e-statements etc. Other one-time fees not covered by the monthly fee include paper statements and paper reimbursement checks. HealthEquity is a green company and values paperless everything – so they encourage direct deposit and e-statements. At the bottom, you can see the standard fees for stop payments, overdrafts and excess contribution refunds… So how does this stack up to BenefitWallet? [next slide]

At a glance comparison Item BenefitWallet HealthEquity Statements
Available Online Monthly Free, $1.25 Mailed Available Online Monthly Free, $1.00 Mailed Investment Account Minimum $1,000 $2,000 Investment Account Fee $2.90/month standard investments (22 investment options) $5.90/premier investments (400+ investment options) Free 39 investment options Paper Checks / Reimbursement Available, First 40 Checks Free Not Available / $2.00 per check Customer Service Hours 8 a.m p.m. M - F 24/7/365 Customer Service Operations On shore/Off shore On shore Customer Service Experience VRU answer Live answer; advisors FDIC Insured Interest Bearing Deposit Account Interest Rate 0.05% 4 Tiers Based Upon Deposits Interest Rate 0.05% % Deposit Range $ $10,000+ Not FDIC Insured Interest Bearing Deposit Account (Yield Plus) Not Available 4 Tiers Based Upon Deposits Interest Rate 0.05% % Deposit Range $ $10,000+ Health plan/HSA integrations Only eligibility is shared Eligibility & claims data is shared Integrated Platform No Yes - HRA, FSA and HSA [Traci] Here you’ll see a comparison between BenefitWallet and HealthEquity… [review key slide points] ****So I want to point out here that since BenefitWallet is no longer our preferred provider for HSA admin services, we will no longer be covering our current members monthly fees. So, what that means is… for members with a balance less than $1,000 and who don’t transfer their accounts to HealthEquity… they will incur monthly admin service fee of $3.50 from BenefitWallet…

BenefitWallet fee notice
BenefitWallet account list ~12,000 open accounts Timing is December 1st Letter from BCBSNC Inform, educate and motivate current BenefitWallet account holders about The transition to HealthEquity and what that means to them Where to find account transfer information The BenefitWallet fees they will pay [Traci] In December, we will be sending a letter directly to all BenefitWallet account holders informing about our transition to HealthEquity. We will also encourage them to transfer their accounts to HealthEquity – so they can benefit from all the things that HealthEquity has to offer. The letter will tell them were they can find guidance on transferring their account, and again this will also serve as notice about the $3.50 BenefitWallet monthly fees for balances less than $1,000 So how do they transfer their accounts? [next slide] $3.50 /month fee Balances < $1,000

Transferring your HSA Transfer details and forms at the new co-branded education site For BenefitWallet account holders For all other account holders 1 [Traci] Members will be informed about transfers in the fee notice letter as well as in their welcome kit. Both will direct them to the HSA member education site shown here. Julie will review the welcome kit and the education site in a bit, but I want to point out the banner outlined in red here. There are 2 links – one for BenefitWallet customers and one for all others. Each guide contains step-by-step instructions for how to transfer or roll over their balances. Please note that transferring and closing an account is optional and a personal decision. Account holders do not have to switch, they can keep their account, and have two accounts if they want to. (They just can’t exceed their total annual contribution limit.) In lieu of transferring, they can choose to use up all their available funds and then close their accounts. But for those who choose to transfer, here’s the process for a BenefitWallet member [next slide] 2

Transferring from BW to HEQ
Trustee-to-Trustee Transfer BW does the work; charges a check fee Member completes transfer form; sends to BW BW will transfer funds to HEQ within 3-6 weeks BW charges $25 check processing fee BW will process any applicable tax reporting Rollover Member does the work; no check fee Member confirms balance; writes check to HEQ Member calls BW to close account Member responsible for tax reporting There are 2 ways a member can transfer their BenefitWallet account to HealthEquity. The first has less member involvement but incurs a fee. In the second, the member does the work and avoids the fee. First. Members will follow the trustee-to-trustee transfer instructions included in the Guide. The member completes BenefitWallet form and sends it to them. BenefitWallet will process the request and reach out to HealthEquity directly to handle the transfer. BenefitWallet will charge a one-time $25 check issuance fee for trustee to trustee transfers. Any applicable tax reporting is handled on behalf of the member. Members’ funds will be posted in their HealthEquity account within 3 to 6 weeks. Second. Members with a BenefitWallet checkbook can write a check to HealthEquity to rollover the entire remaining balance. They must confirm the total remaining balance with BenefitWallet and no further fund disbursements are allowed. In this case, members can avoid the check issuance fee but will be responsible for tax reporting. Then members will call BenefitWallet to close their account. Remember, as I mentioned before, there is also a guide available for transferring balances from other HSA administrators. Now… to help offset the check issuance fee or as an incentive to transfer balances to HealthEquity, HealthEquity is offering our members $25 dollars … let’s look at the details.

$25 transfer offer from HealthEquity
Accelerated credit (BCBSNC only) $500+ Transfer must post within 90 days of activation Earn 2x interest up to $25 credit within 90 days Offer expires 11/1/15 Double interest (standard offer) $250+ Transfer anytime Earn 2x your interest rate up to $25 Offer does not expire So there’s one of two ways a member can earn the transfer incentive and some restrictions apply. Here’s how it works: There’s the “accelerated credit” incentive only for BCBSNC members and “double interest” for everyone else. Bottom line, if a BCBSNC member meets these requirements they will receive double their interest. If after 90 days they have not earned the entire $25, HealthEquity will true up the remaining amount. So let’s review the details… For BCBSNC members who transfer $500 dollars or more within 90 days of account activation, they will get $25 credited to their account. This will be paid to members as double interest for the first 90 days, and if they haven’t earned the full $25 incentive amount, HealthEquity will pay them the remaining amount – that’s $25 minus what they earned in interest. • This offer is only available for a limited time, through November 1st 2015, so… For members who transfer at least $250 dollars at any time, they can earn double their interest until they reach $25. This offer is HealthEquity’s standard Double Interest offer and available to all members at any time. It’s important to note that the $25 dollar credit will not count toward a members contribution limit. We’ve covered a lot… Anne… I would like to pause here to take any questions on the information that we’ve covered so far…. [Anne to take/read questions] [Anne] From here we are going to look at the marketing communications and how members will enroll. I am going to turn it over to Julie Cates who is our Marketing Business Consultant who has been working on the transition of our fund products to HealthEquity over the last year and a half… Julie? NOTE: credit does not count toward maximum contribution

HSA Marketing Communications
Enrollment Process [Julie] Thank you Anne… I am going to review the marketing communications and sign-up process for the transition to HealthEquity for existing accounts holders as well as for new Individual Under 65 members… Generally, our communications will promote the benefits of our new HSA offer as well as address the transition from BenefitWallet to HealthEquity. So as Peter mentioned earlier, our overall objective is to enhance value to our customers and to improve their experience, satisfaction and loyalty through our new HealthEquity HSA offering. We want the transition to be seamless ; we encourage adoption of our HSA offering to new membership; and we want to increase deposit dollars by encouraging account transfers to HealthEquity. We know members have a choice. They do not have to switch to our HSA… so we need to communicate why it makes sense for all those reasons that Peter and Traci just took us through, right? so…

IU65 marketing / education materials
BenefitWallet fee notification HSA Candidate letter Enrollment website – HSA online resources ExperienceHSA.com >> Member brochure and guide HSA Welcome Kit …here are some of the items that we are creating to meet our communications objectives. As Traci mentioned, we’re going to send a letter to our existing BenefitWallet members to inform them about the transition, the benefits of switching and the potential costs associated with staying with BenefitWallet To encourage adoption, all qualified BCBSNC members will receive a letter that will in simple terms explain the benefits of the HSA available to them and who to call or where to go to sign up We have a member education resources website that’s chocked full of information on HSAs And we have member marketing materials for your use Lastly we have produced a co-branded welcome kit for all HSA members Now Traci has already showed you the Notice that we’re sending out in December, so I am going to jump into the enrollment process…

Qualified HDHP plans Five qualified, high deductible health plans:
Blue Advantage Bronze 2700/5500 Blue Value Bronze 2700/5500 Blue Local with Carolinas HealthCare System As Peter mentioned, these five high deductible health plans can be paired with a Health Savings Account. However, for our individual business, HSA accounts are not automatically set up for them… they will have to open their Health Saving Account on their own. Keep in mind that there are other requirements they must meet in order to open account, for example…they cannot be claimed as a tax dependent or be covered by any other non-qualified health coverage, including Medicare. [If you need detailed eligibility rules, you can refer to IRS publication 969.] So when an Individual Under 65 member enrolls in one of these five plans and completes their first month’s payment… [next slide]

Sign-up process Sends eligibility Sends letter Opens account [Julie]
…Starting as early as November 4th for January 1st effectives, BCBSNC will begin to send member eligibility data to HealthEquity each day, then [click] HealthEquity will mail the co-branded “HSA candidate” letter in a co-branded envelope to the member within 5-10 days. The letter talks about what an HSA is, the tax benefits, and the features of a HealthEquity HSA…[click] Lastly, the letter tells them where to go to sign up - They can call HealthEquity customer service or go online to healthequity.com/NCGetStarted to open an account. Let’s take a look at the landing page… [next slide] Note for Julie: For new members, payment of the first premium is made at enrollment. Renewals will be invoiced – so eligibility is sent before payment is validated. Opens account

[Julie] This is the member education site only for Individual Under 65 members who receive the candidate letter. This homepage includes a special banner at the top [click] instructing them to “click to open” their account. This will take them to a special enrollment site just for our IU65 members. Let’s take a look…

Sign-up process continued
Verification information Name Date of Birth Zip SSN So when they click on the link in the banner, a new window will open this landing page shown here. After they enter minimal identification information (name, date of birth, zip code and last four digits of their social security number) the system will recognize them as a BCBSNC plan member and take them to a co-branded screen shown here on the right. This page verifies their plan eligibility and confirms other eligibility before they activate their account. Then when they set up their user name, passwords and , their account is activated and their new account is matched up with their BCBSNC eligibility data and therefore integrated with their health plan. Following this process ensures that their HSA is linked to their BCBSNC health plan. So in other words, IU65 members cannot open an account until the letter is received from HealthEquity. So you cannot sell someone a plan and then say, “now let me help you open your HSA.” You should tell them that their plan qualifies for an HSA and that they will receive a letter with instructions on how to open an account. [next slide]

Member education Educational videos Webinars Tutorials Guides
Calculators Forms Contact info [Julie] When they’re on the member education site, they’ll see tons of information to learn more about HSAs (what they are and how they work), including… Videos, Webinars and tutorials Brochures and member guides as well as the transfer guides that Traci mentioned Contribution calculators and forms, and HealthEquity contact information which is always front and center and very easy to locate! Let’s take a look at some of the documents that are downloadable on the site…

Member brochure and handbook
[Julie] The IU65 member brochure explains what an HSA is and how it works…including eligibility information and how to get started. As you can see, the brochure is co-branded… generally most HSA marketing materials are co-branded, but member materials received after the welcome kit are not. So the member guide, fee schedules, interest rate info and investing info are not co-branded. The member brochure, pictured here, is generally a pre-sale piece that reviews the features and benefits of an HSA and refers them to the Education Site for the details and resources we reviewed earlier. We are printing a small quantity through RRD which will be available in inventory for ordering. You can see the form number here. The member guide is generally a post-sale piece. It’s an online 38-page brochure that contains everything you need to know about your HSA, from investing and how to use the portal and manage your account to how to use the mobile app, etc… U10299, 9/14

Member welcome kit Co-branded Welcome letter Quick start brochure
Debit card mailer [Julie] Once a member opens their account, they will receive a co-branded welcome kit within 14 days. The welcome kit includes a welcome letter, quick start brochure and debit cards. The VISA debit card is not co-branded at this time. So where would you find examples of all these marketing materials? [next slide] Debit card

Sales resource site Marketing materials Training decks
Process documents Fees schedule Forms Demos Contact info [Julie] [this slide is animated to show HSA tab pull down] Everything you need to sell and onboard all our fund products is readily available on the Sales Resource Site. Here you’ll see where we added the HSA tab with portal demos, Questions and Answers, tutorial videos, and marketing materials. We’ll send you the link following the webinar so be sure and bookmark it for easy reference. So that’s it for my portion of our training today… Anne, do we have any further questions?

Questions? [Anne] OK, if you have any additional questions for us, again, please use the chat function. Remember to send them to “All Panelists.” [At this point, consider questions that have come in during the session as well.]

Who to call for assistance
[Anne] So in the future, should you have any questions or need assistance, here’s who you’d call…

Who to call for assistance
HealthEquity /7/365 BCBSNC Agent Call Center Indiv Producers: Group Producers: [Anne]

Follow-up After the webinar We want your feedback! Presentation Q&As
Webinar recording Sales resources site We want your feedback! Complete brief exit survey [Anne] Following today’s session you will receive a copy of the presentation, an FAQ, and links to the recorded webinar and the Sales Resources site. We would also greatly appreciate your feedback, so please be sure to complete the brief survey that you will be automatically forwarded to following today’s webinar! If you don’t immediately see the survey, please check the tabs at the top of your browser to see if the survey is hiding there.

Thank you! [Anne] Thank you for your time and attention today.

Transition to HealthEquity® HSA Fund Administrator

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