Union Bank & Trust Health Benefit Solutions

Healthcare costs are continually on the rise, and are a major concern for businesses and employees alike. Managing those costs and maximizing our healthcare dollars is more important than ever.

Union Bank & Trust (www.ubt.com) has kept a sharp eye on these trends for years, recognizing that area businesses need an expert partner to help them manage and administer benefit accounts. This led UBT to form its Health Benefit Solutions team, which is focused solely on administering Health Savings Accounts (HSAs) for employers and individuals.

UBT’s team is known for its expertise, and has a strong reputation among businesses and gatekeepers. UBT has big plans for its Health Benefit Solutions area, which is emerging as the Midwest’s leader in offering and administering HSAs. To this end, UBT has implemented a new administration platform, which will also allow the bank to begin administration of other consumer-driven healthcare products, such as Flexible Spending Accounts (FSAs) and Health Reimbursement Accounts (HRAs).

WHY THE CHANGE?

  • UBT’s new platform offers a wealth of enhanced features, tools, and resources for businesses and accountholders:
  • Increased functionality, efficiency, and flexibility in managing accounts
  • Greater levels of automation mean more control over account details, settings, and administration
  • Improved participant engagement providing all of the account management features we currently offer, plus enhanced online and mobile capabilities

NEW SYSTEM FEATURES

  • Helping employees make the best possible benefit decisions, thereby making the most of their healthcare dollars, is our primary goal.
  • New and improved participant portal with educational resources, interactive videos, and robust calculators.
  • A powerful mobile app allowing participants to manage accounts, view transaction history, and more – all from their iPhone or Android device.
  • Both deposit and investment HSAs are available. Once a participant meets the threshold in a deposit HSA, he/she can open an investment HSA in the Health Benefit Solutions portal.

ALL-IN-ONE SOLUTION
UBT’s team of HSA specialists works closely with employers and employees to ensure all of your needs are met. UBT provides a one-stop solution where account administration, compliance assistance, employee education, and investment options are all part of our value-added services. Backed by a responsive, local team, customers’ calls are answered promptly by people right here in Lincoln.

EMPLOYEE EDUCATION
It’s imperative that employees understand their health care benefits and how to most effectively use them. UBT offers education online, by phone, and personal on-site visits for topics from enrollment, features and benefits, and account management. Account holders will also get regular updates from account basics to changes in rules and regulations.

HISTORY OF HSA EXPERTISE
Union Bank & Trust began offering HSAs in 2005. In 2006, a full-time HSA Education Coordinator was hired to educate employees on the benefits and uses of HSAs. In 2007, the Investment HSA was introduced, making Union Bank & Trust the first and only local financial institution to offer the product in tandem with educational services.

Today, Union Bank administers over 10,000 Deposit and Investment HSAs for more than 275 organizations ranging in size from 10 to over 3,000 employees.

Union Bank & TrustTo learn more about maximizing benefit accounts for your business and employees, contact Tanya Martin-Dick, Vice President at  402.323.1329, or Donna Crownover, Assistant Vice President at 402.323.1482.

 

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