Mark Haessly of HSA Bank: Here Are Our Five Most Successful Employee Benefits and Perks
An Interview With Finn Bartram, Editor Of People Managing People
Communication with employees is always key to ensure the benefit offerings are still relevant to the employees and are providing an optimal consumer experience. Our relationship management team, here at HSA Bank, regularly reviews the benefits with each of our clients to ensure employees are fully utilizing the benefits we provide and makes recommendations based on those reviews. We also have a state-of-the-art employer portal that provides employers with data on each of their benefit plans and compares them to the plans of similar employers and our total book of business, so they can gain valuable insights. They will also see recommendations based on the data, on how to increase enrollment or contributions into the plan, for example.
Employee benefits and perks can help set your compensation package apart and make a real difference in the lives of your workers. In this series, we ask prominent HR and business leaders which benefits and perks have been most successful in their organizations. As a part of this series, we had the pleasure of interviewing Mark Haessly.
Mark Haessly is a highly experienced professional in product management with over 22 years of leadership expertise. Currently serving as the Managing Director of Product Management at HSA Bank, a division of Webster Bank, N.A., Mark is accountable for the success of Notional products including FSA, HRA, and Commuter accounts, as well as COBRA/Direct Bill administration. He plays a pivotal role in supporting various projects and programs within the product management team. Mark’s exceptional skills in developing operational policies, procedures, and sales and marketing programs have significantly contributed to the growth and accomplishments of the organization during his five-year tenure.
Thank you so much for your time! I know that you are a very busy person. Before we drive in, our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
While in college pursuing my degree in Business Administration with an emphasis on Marketing, I was working as an intern at a local health insurance company. Since I admired the company and culture, I decided to stay after I earned my degree. I spent most of my career there until they closed and took a job a similar company for another 6 years and was brought over to HSA Bank by a former colleague from the original company. Similarly, I love this company and culture as well. So, my career has always been, in some form, in the consumer directed health arena and am still thoroughly enjoying the purpose of our work.
It has been said that our mistakes can be our greatest teachers. Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
A few months into my first job, my company held a holiday party for all employees. Being the social person I am, I spent a lot of time introducing myself to those people I hadn’t personally met. I was chatting with one individual for some time and finally asked him what department he was in and how long he had been with the company. Before answering, he looked at me strangely, smiled and said, “I am (Name), Senior Vice President of Sales”. I felt quite embarrassed that I didn’t know who this senior leader was, even though, in all fairness, he traveled extensively. That embarrassing moment definitely helped me realize that I should have done my homework by utilizing the resources available to me so I knew who all of the leaders in the company were. I have always believed that fostering positive relationships, no matter professional or personal, are key to a fruitful life.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful for who helped get you to where you are? Can you share a story?
I actually have to credit a number of individuals for where I am today. As I mentioned above, a former colleague from my first company who brought me over to HSA Bank, happened to be one of 6 other individuals at HSA Bank who I also worked with at the first company. And one of those was, at one point, my boss for much of the time at my first company. Not only did I learn a lot from him originally and respected him, but the fact that he and the others were now at HSA Bank and spoke very highly of the company, I knew this was the right place for me to continue my career in consumer directed healthcare.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
One of the quotes my father always used throughout my life and instilled in me was “Be a leader, not a follower”. I recall that saying often in my life as I approach decisions at work and in my personal life and it has definitely helped me to not only be a better leader at work, but to find true happiness in my personal life and with my family.
Thinking back on your own career, what would you tell your younger self? In my younger years, I tended to be a risk-averse person, so I would tell myself to take more risks and not be so afraid to fail. Everyone fails, and sometimes that’s the best way to learn, but if you don’t try, you never know what you might be able to accomplish.
Let’s now move to the central part of our interview. Based on HSA Bank’s experience with employers and plan participants, what are the most impactful benefits offerings right now?
Health Savings Accounts
Lifestyle Spending Accounts
Dependent Care FSAs
Adoption Assistance
Tuition Reimbursement
How can HR leaders decide what benefits will be most pertinent to their employees?
HR leaders should start by surveying their employees to find out what is important to them both professionally and personally. They can use this information and reach out to a benefits administrator to find what offerings exist to match those employee needs. HSA Bank has a plethora of resources HR leaders can tap into, such as visiting HSABank.com to view all of our benefit offerings that might be beneficial to their employees. Our sales team can also assist in finding the right fit for benefit offerings by discussing with that HR leader the makeup of the company’s employees, as well as reviewing their current benefits to help tailor the benefits for them.
How can HR leaders ensure that employees fully understand benefit offerings, and are making the most appropriate decisions for their enrollment?
Communication with employees is always key to ensure the benefit offerings are still relevant to the employees and are providing an optimal consumer experience. Our relationship management team, here at HSA Bank, regularly reviews the benefits with each of our clients to ensure employees are fully utilizing the benefits we provide and makes recommendations based on those reviews. We also have a state-of-the-art employer portal that provides employers with data on each of their benefit plans and compares them to the plans of similar employers and our total book of business, so they can gain valuable insights. They will also see recommendations based on the data, on how to increase enrollment or contributions into the plan, for example.
What are your top 3 tips for employers who are looking to develop their benefits program?
Stay on top of your employees’ needs by communicating with them regularly
Keep up with economic and social trends that may be affecting your employees
Find a valuable benefits administrator partner to help guide you and your employees through this ever-changing benefits arena
In your opinion, what are the most undervalued or overlooked benefits or perks that more companies should consider offering?
A couple of them come to mind, one of which is the limited purpose flexible spending account (LPFSA), which is a pre-tax benefit plan that can be used for dental and vision expenses. Many employees have health savings accounts (HSAs) and because the LPFSA can be paired with an HSA, employees can use it to pay for these expenses tax-free. And, because these dental and vision expenses are usually very predictable, an employee can contribute only what they may need in a given year, and then leave their HSA contributions in that account to continue to accumulate year-over-year. In fact, the savings employers realize by offering the LPFSA to their employees, can often cover the administration costs they pay to their benefits administrator. We see many employers that don’t offer the LPFSA alongside the HSA.
The other benefit that has recently made a comeback that employers should take note of, is Tuition Reimbursement. There has been a lot of media attention in the past few years given to the high cost of college tuition and the related amount of student loan debt in the U.S. Tuition Reimbursement is a great way for an employer to offer tax-free reimbursement of tuition and other related expenses to attract and retain good employees. And, because employers can choose what types of education they wish to contribute funds toward, they can realize benefits by educating their employees on specific, job-related topics.
Thank you so much for sharing these important insights. We wish you continued success and good health!
About The Interviewer: Finn is the editor of People Managing People, an indie media publication on a mission to help build a better world of work. He’s passionate about growing organizations where people are empowered to continuously improve and feel fulfilled in their role. If not at his desk, you can find him playing sports or enjoying the great outdoors. To learn more about Finn’s work please go to https://peoplemanagingpeople.com/
