CHICAGO-Alliant CU expects a white paper will help it bring in health savings accounts and SEGs.
In a unique move for a credit union, the $6.7-billion Alliant CU has authored a two-page white paper titled "Is an HDHP/HSA the right prescription for your company?" The paper clarifies what health savings accounts (HSAs) and high-deductible health plans (HDPs) are, how they work, and explains how companies can benefit from using them. It also shares advice on how to effectively implement an HSA or HDHP.
The white paper is part of a broader effort by Alliant to position itself as a resource for HR professionals.
According to Sherry Thomas Palmer, Alliant's national manager for benefit solutions, the paper fits right in with the credit union's consultative sales approach. "The paper positions us as the expert in HSAs and HDHPs," she said. "We want HR staff and benefits managers at our SEGs to come to us when they have questions and concerns about healthcare issues they face."
Alliant determined that healthcare costs and HSAs are timely topics, not only due to the debate over healthcare reform, but as a result of companies struggling to find ways to address rising healthcare costs. "We are always talking to our SEGs and asking them what's on their mind and consistently healthcare comes up," Sherry said. "We learned there is a great deal of confusion around HSAs and HDHPs."
The CU is sharing the white paper with its current and prospective SEGs. The paper was produced in-house from the credit union's own five-person research, writing, and design team, which gathered information for the news piece largely from a nationwide survey of 1,020 people employed in companies that varied in size and industry.
It's not the first time Alliant has produced a white paper, explained Joe McGowean, director of marketing and member communications. "A year ago we produced a paper titled, 'American Workers: Getting Ahead or Just Getting By,' which had to do with financial stress employees face, and the roles financial benefits and financial literacy play in relieving those pressures."
McGowean said that paper further positioned the credit union as an expert in the areas of financial management and employee engagement, provided an additional benefit for its SEGs, and assisted in business development efforts. It also drove people to alliantbenfitsolutions.com, the credit union's standalone website aimed at HR and benefits professionals-and opening doors to new SEGs.
McGowean is hoping for similar results with its newest white paper, which should also drive more HSA business Alliant's way. "We hope our SEGs will consult with us when they consider an HSA," he said. "It doesn't mean we'll always be their choice, but they'll come to us for insight so they can make the right decision in an HSA partner."
