LITTLE ROCK, Ark.,
May 1,
2024 /PRNewswire/ -- DataPath Financial Services,
Inc. has announced the launch of ProsperityHSA (prosperityhsa.com),
a program designed to create new revenue and growth opportunities
in the HSA market for banking institutions, third-party employee
benefit administrators (TPAs), and insurance brokers.
Building on DataPath's recent designation as an approved
non-bank HSA custodian and its two decades of success in creating
HSA administration technology and services, ProsperityHSA is poised
to disrupt the industry's usual HSA administration offerings.
John Robbins, Jr., President and
CEO of DataPath, explains, "ProsperityHSA uniquely combines
expertise, business partnerships, proven products, and experienced
services to help banks, TPAs, and brokers not only capitalize on
existing market opportunities but also create new ones."
For banking institutions, ProsperityHSA delivers a white-label,
turnkey HSA program that enables banks to attract and retain HSA
deposits easily, eliminating the need for in-house account
administration, customer support, and compliance teams.
For TPAs, ProsperityHSA offers a robust, user-friendly platform
that serves third-party administrators, their associated employer
groups, and individual account owners. By forming strategic
partnerships with ProsperityHSA banks, TPAs can gain new business
by offering customer support for the HSAs of the banks' corporate
clients, along with a range of other administrative services such
as FSAs, HRAs, and COBRA.
Insurance brokers, by aligning with ProsperityHSA and their
banking partners, can seamlessly integrate HSAs into their benefits
offerings, increasing client satisfaction and retention.
ProsperityHSA provides a powerful, proven technology solution along
with related services to ensure a first-rate experience for brokers
and their clients, helping their banking partners maintain and grow
HSA deposits.
Robbins adds, "By the end of 2026, the HSA market is expected to
exceed 44 million accounts, holding over $168.3 billion in assets. ProsperityHSA clients
will be able to leverage our compliance, technology, and management
capabilities to gain their share of this growing, lucrative
market."
About DataPath
DataPath Financial Services, a wholly-owned subsidiary of
DataPath, Inc., is an approved HSA non-bank custodian. The company,
which created its first HSA administrative solution in 2004, is
among the most experienced HSA management companies in the benefits
market.
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SOURCE DataPath, Inc.