Challenges that consumers face, like Kristina Herrmann described in her post, are the reason that Sika Health exists. Our mission is to enable consumers to use their health benefits accounts in ways that are personally relevant and impactful as they continue their long-term health journey. We achieve this by making paying with HSA and FSA simple wherever customers shop, so that they can buy items relevant to their personal health journey. Share your story of how traditional FSA or HSA payments have frustrated you, or share how you'd like to be able to use those funds, in the comments below. #hsa #fsa #healthcarepayments #healthcareinnovation
COO, Sika Health // Board Member, Food Lifeline // ex-Amazon: General Manager and Associate General Counsel
I've recently been working on some product challenges at work and, in doing so, was thinking about the customer problem we are trying to solve. In the course of that, I reflected on my own personal experience that brought the difficulties associated with Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) to light for me - and that many other consumers run into when attempting to use their health benefits accounts. A few years ago, pregnant with my second child, open enrollment came around and I decided to max out my FSA benefit as I could foresee spending it in its entirety for co-pays as well as eligible baby and pre- and post-partum products. However, the process of using these benefits proved frustrating: transactions were inconsistently approved at checkout, with some requiring manual substantiation weeks or months later. Even after providing documentation, some transactions were declined, leading to additional administrative burdens. As a post-partum mom with a newborn and a toddler, the effort and frustration involved in trying to use my FSA funds for their intended purpose was simply not worth the savings it promised. This experience led me to opt out of FSA participation in subsequent plan years. It also underscored the need for improvement in the FSA and HSA experience. As an industry, we must streamline the process for using pre-tax dollars for healthcare expenses. Does this resonate with you? I invite you to share your perspectives on the FSA and HSA experience. How can we work together to create a more seamless and user-friendly experience for healthcare consumers? ~~~~~~ Sika Health offers simple HSA FSA payment solutions for retailers to enable consumers to use their health benefit funds seamlessly for the products that support their individual health goals. #FSAAccounts #HSAAccounts #HealthcareBenefits #EmployeeExperience #HealthcareInnovation