HSA User Guide

[alexa]

We are trying to encourage greater participation in our HSA and was wondering if anyone can share an HSA User Guide

thanks

[GBurns]

Have you considered the possibility that the reason for low particpation might be simply because the plan participants have considered the facts and have decided that the HSA is not a good option for them ? If this is so, Why would you want to try and persuaude them otherwise?

A comparison of options might be better.

[MARYMM]

We are trying to encourage greater participation in our HSA and was wondering if anyone can share an HSA User Guide

thanks

If you have payroll deductions for health insurance, you may be able to increase participation by the way you price the various choices. Plan design can help, too. If you increase co-pays/deductibles for the non-HDHP plan, you make the HSA look more attractive.

Our broker provided us with a web-based tool where the employees could enter their anticpated medical expenditures for the year and see what their out of pocket would be under both options (HMO and HDHP/HSA)

You're already making an employer contribution to the HSA which is a good strategy. Do you contribute the entire deductible - or most of it ? That strategy helped here to increase participation and net cost was the same or lower.

[GBurns]

MaryMM

I don't think that I misread the OP, so I have to wonder why you concluded that "You're already making an employer contribution to the HSA " ?

Also " net cost was the same or lower" but for whom ? Employer or employee ? Over how long ? Actual or projected ?

[alexa]

We are trying to encourage greater participation in our HSA and was wondering if anyone can share an HSA User Guide

thanks

If you have payroll deductions for health insurance, you may be able to increase participation by the way you price the various choices. Plan design can help, too. If you increase co-pays/deductibles for the non-HDHP plan, you make the HSA look more attractive.

Our broker provided us with a web-based tool where the employees could enter their anticpated medical expenditures for the year and see what their out of pocket would be under both options (HMO and HDHP/HSA)

You're already making an employer contribution to the HSA which is a good strategy. Do you contribute the entire deductible - or most of it ? That strategy helped here to increase participation and net cost was the same or lower.

Mary- can you share this tool? thanks

[GBurns]

There are inherent problems with such tools.

1. The tools are usually provided by pro-HSA entities and biased. The bias is not deliberate but is caused by the lack of info and comparative data, so it is a guessing game.

2. The consumer is asked to anticpate medical expenditures. The reality is that very few know and can even find out what the costs of any medical procedure will be. Just pick any procedure for any ailment or disease then call the Dr's office and ask. Don't forget, the hospital charges, the Operating Room charges, the anethesiologist, the pathologist etc etc.

3. The consumer has no way of knowing, at time of enrollment, the schedule of payments agreed to between the HDHP and the service providers, so there is no way to compare co-pays and out of pocket expenses between the existing health insurance and the new HDHP, in fact they do not even know what the current insurance pays.

[alexa]

There are inherent problems with such tools.

1. The tools are usually provided by pro-HSA entities and biased. The bias is not deliberate but is caused by the lack of info and comparative data, so it is a guessing game.

2. The consumer is asked to anticpate medical expenditures. The reality is that very few know and can even find out what the costs of any medical procedure will be. Just pick any procedure for any ailment or disease then call the Dr's office and ask. Don't forget, the hospital charges, the Operating Room charges, the anethesiologist, the pathologist etc etc.

3. The consumer has no way of knowing, at time of enrollment, the schedule of payments agreed to between the HDHP and the service providers, so there is no way to compare co-pays and out of pocket expenses between the existing health insurance and the new HDHP, in fact they do not even know what the current insurance pays.

George,

I am in agreement with you

But there needs to be baby steps started in the arena of healtcare consumerism and these tools are a start

[MARYMM]

MaryMM

I don't think that I misread the OP, so I have to wonder why you concluded that "You're already making an employer contribution to the HSA " ?

Also " net cost was the same or lower" but for whom ? Employer or employee ? Over how long ? Actual or projected ?

GBurns - that info was in another post made by Alexa. It was a discussion revolving around fronting the employer contribution to the HSA. Sorry for the confusion.