This might be the key question you will face during this year’s open-enrollment period: Should you pick a health plan with a higher premium but lower deductible, or vice versa? At the end of the day, everyone needs to do the math before making their decision.
Even if employees are convinced to sign up for a high-deductible health plan with a health savings account, they may experience disappointment when they use the plan, so ongoing communications are needed.
Many leading and niche players are investing heavily to make their HSA experience more user-friendly, more visually appealing, with better investment options and advice, with better ways to track health spending, and with better links to health care resources. So if you currently have a No Frills HSA that is not helping you engage more fully in the HSA experience, switch to another one.
FSA vs. HSA: How to Make the Best Choice During Open Enrollment
It's open enrollment time in most workplaces, as well as for those who use the Affordable Care Act exchanges. One choice many face is how best to maximize the tax savings that come with some health benefits. The U.S. tax code provides two ways to pay for health care with tax-free money, but both can be complicated.
3 Ways to Help Employees Become Better Health Care Consumers
Navigating the health care market today is like driving with a blindfold on and no GPS; most will never get where they need to go without help. Here are three things plan sponsors can do to empower their plan members to become savvier health care consumers.