J.P. Morgan releases 2011 Health Savings Accounts customer satisfaction survey results
Dec 20, 2011
J.P. Morgan's Treasury Services business recently announced the results of its 2011 health savings accounts (HSA) customer satisfaction survey.
The 2011 survey was used to examine overall customer satisfaction levels with health savings accounts, specifically to better understand client needs and determine overall satisfaction with both service and educational resources available for account users. Highlights from the survey included:
- Nearly 8 out of 10 accountholders were "very satisfied or satisfied" with their HSA. Additionally, the results indicated that satisfaction increased among accountholders who used their HSAs more frequently and among longer-term accountholders
- Accountholders who spent more than $4,000 per year from their HSA are 26 percent more satisfied than those that spent less than $500
- Second year accountholders were 9 percent more satisfied than first year accountholders
- 3 out of 4 respondents were "very satisfied or satisfied" with the HSA accountholder website
- HSA education and tools are certainly of value to accountholders as, more than 60 percent of accountholders found sample lists of qualified medical expenses to be the most helpful resource, followed by interactive tools such as HSA calculators
- 8 out of 10 accountholders were "very satisfied or satisfied" with the HSA telephone customer service team and the knowledge of their service representative
- Nearly 2/3 of accountholders were "very likely or likely" to recommend a Chase HSA to a colleague, friend or family member
More than 100,000 accountholders were polled in the survey throughout a three-week period. Additional details and a look at contribution and spending behavior will be included in the 3rd annual J.P. Morgan HSA Snapshot scheduled for release in early 2012.
J.P. Morgan currently administers more than 700,000 HSA's with more than $1.2 billion in HSA deposits. J.P. Morgan estimated the average accountholder saved more than $500 in taxes by contributing to an HSA in 2011. For more information about J.P. Morgan HSA's, please visit www.jpmorgan.com/hsa.