The numbers tell a story.
Enrollment in high deductible health plans (HDHPs) has grown from just 1 million in 2005 to more than 23 million in 2017, according to statistics from America’s Health Insurance Plans.¹ Moreover, employers are increasingly offering health savings accounts (HSAs) as a part of their benefits packages. Yet in a recent study from Further and SourceMedia Research, a division of the company that publishes Employee Benefit News, points to the fact that only one out of three employees—33%—participates in HSAs.² What do these findings signal? You can’t simply offer HSAs and expect employees to engage. There is a continued need to help employees adopt—and use—these beneficial, tax deductible health savings accounts.³
Check out the infographic, Top Tips for Employers: Getting Employees to Use Savings Accounts to gain a better understanding of how to help employees understand how HSAs work so they can use them fully. Our tips can help you simplify the process!
- AHIP. Health Savings Accounts and High Deductible Health Plans Grow as Valuable Financial Tools. https://www.ahip.org/wp-content/uploads/2018/04/HSA_Report_4.12.18.pdf.
- Online survey of 313 human resources and benefits managers and directors at organizations with 5,000or fewer employees, conducted by SourceMedia Research/Employee Benefit News, November 2018.
- Irwin, J. 4 Ways to Fuel HSA Growth. Benefits Pro. https://www.benefitspro.com/2018/10/17/4-ways-to-fuel-hsa-growth/