Reducing Your Employees’ Fear of High Deductibles

Health Savings Account (HSA) adoption and expansion rates have hit a record high—spanning well over 22 million active HSA accounts holding about $45.2 billion in assets—up from $37 billion at the end of 2016, according to the “2017 Year-End Devenir HSA Research Report.”

However, from the employee’s perspective, the higher deductibles associated with an HSA can be quite unnerving for many. But as an employer, you have the ability to eliminate the scare factor by considering some interesting practices to make the transition from a traditional copay plan to the Qualified High Deductible Health Plan (QHDHP) more appealing.

For starters, the easiest way to put your employees’ minds at ease is for you to contribute to their HSA to provide a cushion

If you choose to fund your employee’s HSA, one way to help protect the company’s assets, particularly in the first year, is to offer the HSA as a “buy down” option and take the difference in premium and contribute it to the HSA.

Please call us if you have any questions or for help working with and navigating the 2018-2019 healthcare marketplace.

You can reach me at 925-552-7077 Office or 925-785-1161 Mobile.

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