As employers look to manage health insurance costs, one option that continues to draw attention is implementing a Health Savings Account.
While a growing number of companies succeeded in adding a HSA to their employee benefits plan, others have hesitated in doing so. One of the big reasons cited by that latter group is the effort required to educate and engage employees about the HSA option.
At CBG Benefits, we have been able to help a number of companies overcome that obstacle. Based on our experience, here are four steps that you can take to properly educate employees — and increase participation — in the HSA option.
- Educate early and often: If your company’s open enrollment meeting is the first time that employees hear about the HSA option, participation levels will suffer. It’s important to share information about HSAs well in advance of your open enrollment period, including what they are, how they work, etc.
- Use multiple forms of media to highlight how they work: It may take time for some employees to grasp the HSA concept. To help them understand how they may be able to use it, you must do more that provide a single email or PDF that provides plan details. By sharing content in multiple forms of media — such as images & infographics, videos, presentations, lists, and FAQs, you will better equip your employees to make a proper decision.
- Conduct surveys among adopters and non-adopters: When adding a Health Savings Account to your employee benefits plan, you must be prepared to take a long-term view to its success. Throughout the year, conduct employee surveys among those that have enrolled…as well as with those that have not. By finding out how enrollees have benefited from the plan, as well as why some have presently decided not to, you will be better prepared to tailor your educational materials going forward.
- Build and share case studies: For your employees to best understand and support the consumer-directed health plan model, it’s important that they can visualize how a Health Savings Account will impact them and/or their families throughout the year. Take the time to build and share case studies that highlight how employees across varying demographics have used and benefited from a Health Savings Account. These case studies may play a tremendous role in helping to alleviate concerns that other employees may have.
Would you like to receive more information about how your company can successfully implement and promote a Health Savings Account option? CBG Benefits is here to help.
In addition to answering your questions, we can also provide a number of materials that you can include in your educational efforts. That includes flyers, Top 10 Lists, videos, and more.
Contact us today at 877-332-6387 or drop us a line via our online contact form.