Voya Enhances myHealthMoney Digital Assistant

Voya Financial has announced that it launched a new version of its myHealthMoney digital assistant.

Initially launched last year as a health savings account (HSA) contribution digital assistant, Voya’s enhanced version of myHealthMoney now provides guidance to help employees optimize several of their workplace benefits. Powered by SAVVI Financial and accessed through the participant’s account, myHealthMoney is an interactive experience that guides employees through a series of questions that leads to personalized recommendations on medical, dental, vision and supplemental health insurance, as well as contribution guidance for HSAs and flexible savings accounts (FSAs), based on their unique situation.

For example, Voya says, it takes into account family size, typical health care spending, retirement dates and savings goals. Instead of calculating and comparing options manually, the employee receives personalized scenarios that illustrate the cost of each option and take into consideration his risk tolerance. The scenarios also give employees the opportunity to see how different supplemental health products offered by their employer can work together.

Surveyed employees have said that COVID-19 has caused them to look more closely at their health plan options, but many still struggle to make the right benefit decisions.

The enhanced version of the myHealthMoney tool is available to Voya’s workplace clients and customers, as well as Voya’s own employees.