Bend Financial enters into a long-term partnership with Stonebrook Risk Solutions
In theory, taking advantage of a health savings account (HSA) is one of the easiest, most impactful tax breaks almost anyone with an HSA-qualified high-deductible health plan (HDHP) can benefit from. By setting aside pretax income to pay for qualified healthcare expenses now or in the future, HSA users stand to save hundreds, or even thousands, of dollars in taxes alone.
In practice, however, many assume HSAs are too complicated and confusing and shy away from opening an account. This disconnect between theory and practice is where Bend Financial sees opportunity. According to Senior Vice President of Business Development Mark Fallon, “If we can proactively educate people, both account holders and employers, and teach them the value of HSAs while providing a platform that makes taking advantage of their accounts quick and simple, there’s significant upside for everyone.”
Bend has carved out a niche in the middle market, serving companies with up to 10,000 employees with an innovative HSA platform that vastly simplifies every aspect of HSA management and usage. “Bend is a health savings account for the modern day,” says Fallon, “that was founded by industry veterans about four years ago with the premise of making HSAs easy for everyone through three principles—simplification, guidance and consistency.”
Beyond just the short-term saving opportunities HSAs provide, Bend is looking well into the future to also help accountholders prepare for healthcare needs in retirement. “By streamlining solutions and providing a best-in-class HSA investing platform,” Fallon says, “our account holders will be well-positioned to cover the potential hundreds of thousands of dollars in healthcare costs they may encounter throughout retirement.”
Bend is also looking beyond traditional healthcare models and partnering with Stonebrook Risk, which is building a nationwide network of regional health plans to provide more efficient high-quality care than national providers.
“I love Stonebrook’s approach to the market,” Fallon said. “They think differently and they’re building an ecosystem of health plans that are uniquely positioned to integrate with the Bend solution. It’s such a win for members and for employers.”
“We are so excited to partner with Bend Financial,” said Mark Angard, CEO of Stonebrook Risk. “They’ve made HSAs easy because they’ve done such a superior job of integrating them into everyday life and educating account holders on how to best use them.”
Integral to the strategic partnership is Stonebrook’s digital platform and Total Value Analytics, which benchmarks service offerings nationwide to help regional health plans deliver superior care while minimizing costs. “We are committed to long-term partnerships with best-in-class providers,” said Angard, “and Bend truly is better than anyone when it comes to HSAs. Overlaying better, more cost-effective care with a user-friendly, tax-advantaged savings account is a classic win-win.”