Bend Financial (Bend), a company leveraging technology to drive long-term financial health, announced the expansion of its artificial intelligence-enabled assistant, the Bend Advisor, to help make health savings accounts (HSAs) easier to understand and use for everyone, not just accountholders.
Research shows that nearly half (49%) of Americans1 are confused by or have questions about how HSAs work and how to best utilize these accounts to maximize health savings. The Bend Advisor, a core element of the Bend HSA platform, uses artificial intelligence (AI) and machine learning to provide accountholders with personal, timely advice to manage their health savings based on their own unique needs and behaviors.
The enhanced Bend Advisor now reaches consumers wherever they are in their HSA journey. Whether a current HSA participant or a potential HSA user, the Bend Advisor is designed to drive engagement in HSAs by answering questions, providing helpful resources, promoting the various uses and benefits, and, when the consumer is ready, opening an HSA.
“At Bend, we understand that most people want to be prepared for the future as it relates to their health and healthcare costs, but many lack access to information that can help point them in the right direction,” said Itamar Romanini, chief revenue officer at Bend Financial. “The success of an HSA is reflected in a complete understanding of how the account can benefit each individual’s specific situation. By offering a tool for people to really dive deep into HSAs, their capabilities and benefits, we believe we can better serve that person and set them up for health savings success.”
The Bend Advisor leverages behavioral economics and digital technologies to help customers easily maximize their tax savings, spend more wisely, grow their account balance, and achieve financial wellness. Current accountholders will also receive guidance messages, action recommendations, reminders and more. The Bend Advisor will be available on the Bend website as well as apps such as Facebook Messenger and Slack.