2^nd of a 3 part interview with Sanders McConnell, Founder, My HSA Rewards

Gradock:  So, when I first went to the site, I was greeted by a nice young woman named Erin, who I thought did a terrific job of introducing My HSA Rewards.  At least I “got it.”  For someone who has not yet visited the site, what is the number one reason why they might consider joining?

McConnell:  If you are someone who wants to take control of their health care dollars, then you might as well get all of the help you can by using our program.  It helps you contribute more money to your HSA and take the tax deduction for that money that is put into your HSA.

Gradock:  In a nutshell how does the program work?

McConnell:  Interesting word choice there, “nutshell.”  Since the program works a bit like a squirrel gathering and “squirreling away” nuts. You simply shop with our network of over 8,000 merchants and our merchants will pay you a cash reward for shopping with them.  We will then forward those dollars to your HSA for you and you take the tax deduction for that contribution.

Gradock:  So by shopping through the program, over time, I have the chance to put a way some bucks into my HSA?

McConnell:  That’s the idea.

Gradock:  Serious bucks?

McConnell:  When you consider that the average amount spent out of an HSA on qualified medical expenses is approximately $1,000 per year, you could feasibly cover 25 – 50% of those dollars from the cash rewards that you get from our program.  Think about that, if you don’t have any medical expenses this year and keep saving through our program, you would have a significant percentage of your health care expenses paid for by this program.

Gradock:  So talk to me about the merchants in the program.   How did you select them and what kinds of “deals” are they offering?

McConnell:  Currently, we are offering merchants from all areas of your life and we will be focusing on companies that help you to live a healthier lifestyle as well.  So, hopefully, you will earn more rewards for buying a bicycle and get outside to play vs. staying inside on the couch watching Homer Simpson which pays you nothing.

Gradock:  I noticed all of your merchants today are online.  Do you plan to expand the list?

McConnell: Absolutely!  We have built our platform so that we can offer all types of merchants and services.

Gradock:  So is your goal sort of like that old VISA slogan, “Everywhere you want to be?”

McConnell:  yeah, kinda.  We are trying to help you live the life you have now and get rewarded for it but also to help incent you to live a healthier life by being rewarded more for living a healthier lifestyle.

Gracock:  Lot’s of merchants.  I like that.

McConnell:  Yep!