About HSA Simulator™

HSA Simulator™—Showing You the Financial Impact of the HSA Funding Approach

HSA Simulator™, designed by Cordova Advisors, LLC, is a web-based solution that provides employers and their financial representatives with the ability to analyze alternative health care funding methods.  HSA Simulator™ uses an innovative approach to illustrate the financial impact of replacing current insurance plan(s) with a plan that is based on the use of Health Savings Accounts (HSAs).

Who Uses HSA Simulator™

HSA Simulator™ was created for organizations with 2 – 1,000 employees.  Business owners, human resources executives and financial officers can log on to the application directly.  Financial advisors can use HSA Simulator™ to make presentations to prospective and existing clients.  The definition of financial advisors is broad and may include:

• Insurance brokers and agents
• Employee benefit consultants
• Financial consultants and registered securities representatives
• Independent financial advisors
• Tax advisors and CPAs
• Attorneys

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Why Use HSA Simulator™? 

• HSAs and high deductible health plans can have a significant and favorable financial impact on employers and employees.  Switching to a high deductible health plan can create immediate savings in the range of 20% - 60%, and employees can build significant HSA balances over time.  HSA Simulator™ simplifies the complex task of showing all the parties involved what these projected savings might look like.
• For the cost of a business lunch and in a few minutes time, subscribers can use HSA Simulator™ to see health plan savings that could amount to tens or hundreds of thousands of dollars.
• Financial advisors can overcome marketing challenges and complexity surrounding HSAs by incorporating HSA Simulator™ results into presentations and employee education materials.
• Create a successful HSA program by analyzing the optimal mix of employer/employee contributions. 
• HSA Simulator™ is an "open" application that lets employers and their financial advisors compare plans from any insurance company in any state.  The services provided are not intended to sell or advocate any particular health insurance product or related service.
• HSA Simulator™ functionality is provided on an enterprise or company-wide basis and also on an individual employee level.
• HSA Simulator™ is designed to provide long-term projections that enable users to look at the probable financial implications over periods ranging beyond 1 year.
• HSA Simulator™ will continue to provide significant value as companies change and grow.  All work is saved in a secure database and can be accessed and amended at any time.  Users can log-in to HSA Simulator™ at any time to see the financial impact of changes in an employee base or plan designs.   

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How Does HSA Simulator™ Work?

Unlike other tools, HSA Simulator™ uses a dynamic financial model to simulate long-term projections and show the impact of fully replacing current insurance plan(s) with a qualified high deductible health insurance plan (HDHP) coupled with Health Savings Accounts (HSAs).

HSA Simulator™ uses an actuarial database to credibly simulate health care utilization over time for each employee based upon his or her unique demographic profile.  Simulation involves a statistical sampling method that attempts to imitate future health care utilization.  The model aggregates the individual results to provide a picture of how the HSA funding approach might operate on a plan-wide basis.

There is obviously uncertainty surrounding projections of future health care utilization.  As a result, certain HSA Simulator™ results are presented as a range of possible outcomes or scenarios, each with associated probabilities.  The ultimate objective is for clients to base their planning and decisions on a thorough consideration of the likelihood of achieving a desired outcome.

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