High deductible health plans (HDHP) are fast becoming the plan of choice for many employers and employees. In fact, PWC research found 83% of employers now offer an HDHP and 56% offer an HDHP with an HSA.
An HDHP is a plan that features higher deductibles than traditional insurance plans. HDHPs can be combined with an HSA or a health reimbursement arrangement to allow employees to pay for qualified out-of-pocket medical expenses on a pre-tax basis.
Whether you are introducing a new HDHP, or communicating about an existing plan, chances are many employees will struggle to understand how to take full advantage. Aflac’s 2015 Workforces Report found 48% of employees surveyed didn’t understand how an HDHP plan really worked.
The cost savings and advantages for both employers and employees can be significant, but only if employees understand how to get the most out of their plan and feel confident in taking action.
By providing simplified and impactful benefits education, tools and resources, employers can promote a culture of healthcare consumerism and drive adoption of their HDHP and HSA. And GuideSpark’s here to help!