Picwell Blog

Health Savings Account (HSA) Roundup: Talking Points for Benefits Pros

Mar 9, 2022 9:01:00 AM / by Picwell

It’s the year of the HSA and this tax-advantaged benefit is finally getting the recognition it deserves! While health savings accounts (HSAs) have always featured a host of valuable benefits, many employees have shied away from them in the past, often due to a lack of awareness and understanding. Now (due in part to the effects of the pandemic) nearly 50% of workers surveyed are investing the time to learn more about the plans that protect their health and their wallet. In addition, 77% of employees reported their HSA gave them peace of mind over the past year!

With this renewed interest, this year’s benefits enrollment season is the perfect opportunity to share the many perks of HSAs with your employees. To help make it easier, we’ve compiled a variety of articles that run through the benefits of enrolling in, and contributing to, an HSA so you can easily promote these benefits to your team.

The Link Between Health Care Benefits Plans and Employee Financial Wellness

The link between health and wealth is undeniable - and the benefits your organization offers directly affects both. Check out this article to learn how your organization can help your employees improve their financial wellness and keep them healthy, happy, and productive.

Why You Need an HSA in Your 20’s, 30’s, and Beyond

An HDHP combined with an HSA helps your workers cover their medical costs in a tax-advantaged way and is often the best choice for most employees. This article explores in detail how an HSA can help your employees whether they’re young professionals just starting out, or senior professionals nearing retirement (...and all the in between!)

4 Reasons Why an HSA is Better Than a 401(k)

Your company’s 401(k) is a valuable employee benefit, but an HSA outshines it for several reasons (and not just the triple tax advantage!) Check out this article to learn 4 reasons why an HSA is a better investment option than a 401(k) for retirement.

The Top 5 Strategies to Increase CDHP Participation

HSA benefits are impressive, but they won’t help your employees if they don’t enroll in a Consumer Driven Health Plan (CDHP) or HDHP. This article runs through ways you can promote participation in these plans.

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We hope these articles help as you begin to craft your benefits strategy for the year. But, it’s important to remember that no matter what benefits your organization offers, effective communication is key to ensuring employees take advantage of what’s available to them - and we’re here to help with that.

No matter what your benefits strategy entails, Picwell can help communicate these benefits and educate your workforce. Our AI-powered benefits decision support tool helps employees choose the best plans for their situations - all in just a few minutes! 

Here’s how it works:

  • Employees answer a few simple questions regarding their past health care usage and risk tolerance
  • Picwell compares their responses to people like them to create a risk profile and compares that to the various benefits plans your organization offers
  • Picwell ranks the plans based on fit, highlighting the “best-fit” plan, and provides all details needed to make a decision

But that’s not all. We also provide support for voluntary benefits and of course, HSAs. Our unique feature, Interactive HSA, will help your team members explore how this benefit works and see how an HSA can improve their financial situation - it can even help them determine an optimal contribution amount! Want to see exactly how it works? Check out Interactive HSA.

Ready to see our entire platform in action? Schedule a custom demo today!

Topics: Benefits Decision Support, Consumer Directed Health, HR Tech, health savings account, hsa, employeebenefits, CDHP, hdhp

Picwell

Written by Picwell