Making the Most of Your HSA Program
Your guide to a successful HSA program
Whether you are offering HSAs to your employees for the first time or looking to increase your current HSA enrollment, we’re here to help you make the most of your HSA program today and tomorrow.
Maximizing enrollment in any benefit program can be a challenge. You want your employees to evaluate their benefit options carefully, but oftentimes they want to spend as little time as possible reviewing their options – and they really don’t want to see an increase in how much they pay for their portion of healthcare benefits. The JD Power and Associates 2008 National Health Insurance Plan Study revealed that only 45% of health plan members report that they fully understand how to use their health insurance coverage and member services. And the reality is, if your employees don’t understand what they are buying or what their options are, chances are they won’t make a change. Education and communication are the keys to your success.
Communication is key
Helping your employees understand the value of the HSA – long before they receive their benefits enrollment package – will eliminate confusion and prevent some of the negative reactions that naturally occur when people are faced with change.
Communicate from the top down. Messages about the business climate, how health benefit costs are directly tied to the success of the company, or a personal endorsement of the HSA can help your employees see the value in enrolling in the program. Seek out employee feedback on how best to roll out the plans to your employee population. Buy-in from employee leaders can help with plan adoption.
Visual materials are still the predominant method employees use to research healthcare coverage – but don’t discount other sources for getting your message out. A recent Forrester study stated 46% of consumers use 2 to 3 research methods when investigating their healthcare options. Using a variety of media will help spread your message across your various employee populations.
E-mails make it easy for you to kick off your annual enrollment as well as remind your employees when the enrollment period is about to end.
e-Mail 1 – Reminds your employees that benefits enrollment is right around the corner and includes a teaser on an HSA. Send 2-4 weeks before annual enrollment begins.
e-Mail 2 – Provides more information on the benefits of an HSA and includes dates for annual enrollment. Send 2-5 days before annual enrollment.
e-Mail 3 – To be sent a few days before the enrollment period ends. Highlights the increased buying power of an HSA while there’s still time to enroll.
Don’t discount the personal touch. In-person meetings or the opportunity to talk to someone about a new benefit program is often the most effective way to get a message out to your employee base. Our modifiable posters provide a highly visual way to advertise your enrollmentmeetings or fairs as well as your HSA option.