Mark Marcon: Hey, good afternoon and thanks for taking my question. I’ve got two questions. The first one is with regards to the number of HSAs that were added in in the fourth quarter, can you kind of break down both for the fourth quarter and for the year the percentage of new HSAs that were a function of brand new sales to new employer partners versus what percentage was, was due to new hires and to what extent may have the new hires slowed down in the fourth quarter relative to earlier in the year?
Jon Kessler: Yeah. So let me without you always ask questions in a way that I’m not going to answer them exactly that way, but I’ll do my best. If you look at it, and you will notice on year over year basis that the, that we were, we were ahead in earlier quarters of the year, but as the year went on, right, in terms of new ads, right, we were closer to last year, I think in Q4. We actually had more new ads in the prior year than last year. And someone could bang us on that except that we said throughout the year that that again, particularly at the beginning that, hey, part of what was going on here was new, was essentially job formation, right? And job formation, as did slow down a bit in q4, particularly calendar Q4 and relative to earlier part of the year.
And so I think that was reflected a little bit the, the sort of and so that was reflected a little bit in the data and then again of the commentary, man about guidance, right? We’ve tried to be, I think very realistic about, we look forward, let’s look at, let’s guide with the idea of a neutral view of job creation, right? Neutral doesn’t mean zero, it doesn’t mean negative number. It means more neutrally a hundred thousand a month, that kind of thing in terms of what the broader economy is doing. So that there is the connection there, Mark, that you’re, that the question implies that having been said across both HSA and our CDB business new logo and new client within existing health plan and, and retirement record keeper partner was a very important part of this year.
We looked at and what’s nice is today is that more of your new logos are actual in the HSA world are HSA takeaways. Of course in our world, many of those are also cost sales. We have existing products with them. Some of the folks that, if you look at the case studies that we talked about over the course of the latter part of this year, Pfizer being an example, right? That’s an example of a company that never offered HSA. So there’s those — but then there are also examples of like, they were offering it, right? They weren’t satisfied with a partner that was really looking at it from the perspective of the needs of every member. Maybe just looking at the, the top 2% or just looking at a way to just pay healthcare claims without regard to how they could help, the consumer.
Either way we’re a better option than that. And so that’s the takeaway business. So I it is probably a fair statement to say that in the earlier part of the year, right existing basically employment growth at existing firms was a bigger component than in prior years. And that kind of normalized itself as we got towards the end of the year. And, you continue to gain share and you continue to win more and more than your fair share. So I think that’s fairly clear. I was just trying to dimensionalize what the over year trends were looking like. The relevant point is when people go into next year and now this year and they say, oh, you sold almost a million HSAs, is it going to be million one? I kind of say the same thing when, when last year people said, you’re going to sell 900, you’re going to sell a million.
