When you’re pitching benefits to a business owner almost every one of them asks the same thing, “Is an HSA actually worth it?”
That question shows you a bigger truth about Health Spending Account sales. The biggest obstacle to making the sale isn’t explaining how an HSA works, it’s helping your clients understand what it’s worth to them.
Now you can overcome that obstacle in less than 2 minutes.
We’ve built an HSA Select Savings Calculator that helps you answer the question, “Is an HSA actually worth it?” while interacting with your client in real time, without messy spreadsheets.
Rather than telling clients they could save money, you can show them exactly how much.
Who we built this calculator for
The calculator is designed specifically for advisors to use when suggesting our HSA Select – the Blendable feature for individuals who own an incorporated business and want to make their medical bills a pre-tax expense.
When to use the calculator
This tool fits in across the sales journey and beyond. You can use it:
- Before your first meeting – run some numbers yourself, or ask a client to take a look so you have facts to discuss right off the bat
- During discovery – while sitting down with a client instead of passing across a mess of brochures, or scribbling figures on paper you can run through the numbers together
- After proposal – once your client has bought in to the idea of the HSA, you can test different scenarios
- In annual reviews – HSAs are simple to renew, but that doesn’t mean you should skip a renewal conversation. Pulling up the calculator is a great excuse to check in on your client, see if anything has changed, and run the numbers again.
How to use the calculator
You only need three pieces of information to get started:
- Annual income
- Estimated annual medical expenses (for them and their dependants)
- Their province
Fill these in, and you’re off to the races! The calculator converts their expenses to an HSA contribution, layers in fees and taxes, and compares the final cost to what they’d pay out of pocket given their tax bracket.
Now you have a conversation starter that:
- Creates immediate engagement
- Quantifies tax savings
- Makes HSA recommendations tangible
- Shortens your path to the sale
Right now, the HSA Select Calculator is only available to members of our Advisor Nation. We can’t wait to hear how you’re using it, what’s resonating with your clients, and what we should build next.
If you have feedback, or would like a walkthrough, just say hello@blendable.ca!