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South Central Service Coop & SelectAccount. Who is SelectAccount. 25 years of medical spending account experience 300,000 account holders 5,000+ employer groups Clients in all 50 states ASA > 30 seconds – customer service 90% of claims paid in 5 business days
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South Central Service Coop & SelectAccount
Who is SelectAccount 25 years of medical spending account experience 300,000 account holders 5,000+ employer groups Clients in all 50 states ASA > 30 seconds – customer service 90% of claims paid in 5 business days 94% of account holders are satisfied with experience Highest interest rates paid in the industry No hidden account banking fees Special relationship with the MN Service Coop
Group Leader Resources Phone Number Special service number for group leaders in the Minnesota Service Cooperatives. 1-888-460-4014 This resource is available to assist Group Leaders with Enrollment, forms, renewal questions, employee service being handled by employer, group portal set up, etc (651) 662-5065 or 1-800-859-2144 This resource is available to assist employees (members) with all customer service inquiries
South Central Service Coop Group accounts within SCSC VEBA = 41 HSA = 19 Participants in SCSC VEBA = 4679 HSA = 595 Account Balance in SCSC VEBA = $13,260,545 HSA = $1,025,294
VEBA / HSA combination plans Fastest growing product at SelectAccount Exclusive to MN Service Coop Allows for VEBA balances to be frozen and grow to pay premiums in retirement and HSA account established to use pre tax payroll funds to pay current medical expenses.
Crossover / Debit Cards Automatic enrollment in crossover (4,312 accts) VEBA,HSA,FSA debit card available (1,140 accts) Instant access to funds One card for stacked accounts Can not have both crossover & a debit card Accepted everywhere VISA is accepted