Brokers and employers are critical to the proliferation of consumer directed health care plans (CDHPs) in the market, including high deductible health plans and account-based offerings such as flexible spending accounts (FSAs), health savings accounts (HSAs), and health reimbursement arrangements (HRAs), according to a report released by CDH solution provider, Alegeus.
With 60 million CDHP accounts in the market as of 2016 and an 11% estimated compound annual growth rate (CAGR) from 2014 to 2020, 74% of employers rate CDHPs to be a critical component of their future benefits strategies and an essential tool to combat the rising cost of health benefits.
Rising health care costs are still the biggest factor driving CDHP adoption. This is true for both brokers and employers, but many employers have a strong desire to empower and provide valuable benefits to their employees.
Self-service features and customer support are mission critical. Employers want to ensure a superior consumer experience. They view digital self-service channels as the most critical account features, such as a robust mobile app and online account access.
Alegeus found employers need support to drive participation in CDHPs. More than half of employers desire help from their benefit solution providers for training, messaging, communication planning and development of marketing materials that assist with driving employee CDHP adoption.The report may be downloaded from here.
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