article thumbnail

Help Employees Understand the HSA Value Proposition

Corporate Synergies

High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% In addition, employers can contribute tax-free dollars if they choose—all of which is employee money.

401(k) 40
article thumbnail

HDHPs can cover more preventive services

Business Management Daily

An ounce of prevention may be worth a pound of cure, but up until this point, high-deductible health plans have been boxed in regarding tax-free reimbursements for most preventive care services or items. Reason: With certain exceptions, HDHPs can’t start reimbursing employees until they meet those high deductibles.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Threats to Health Care Consumerism & What to Do About Them

AssuredPartners

While many employers now offer consumer-driven plans, uptake by employees isn’t phenomenal with only around a third of eligible employees enrolled in a CDHP.nSo what’s going wrong? For starters, CDHPs utilize tax-advantaged accounts and high deductibles, both of which incentivize contributions.

article thumbnail

Why “high deductible” shouldn’t be treated like a dirty word

Benefit Resource Inc.

According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. For example, 55% of employees enrolled in an HDHP checked whether their health plan would cover their care or medication.

article thumbnail

Compliance checklist for HR professionals for year-end and beyond

PeopleStrategy

Assessing open enrollment and employees’ overall involvement in benefit offerings should be a big part of any year-end HR checklist. Obviously you and the providers you select for your benefit offerings need to know how many employees enroll in each plan. Payroll compliance checks.