It has increasingly been shown that there is a correlation between health benefits and retirement readiness beyond the fact that health and retirement benefits compete for employer dollars. Employees who can improve their health and/or lower their health care expenses have money freed up for other purposes. In addition, health savings accounts (HSAs) are no longer viewed by employers as only a way to help employees pay for current medical expenses, but also as a way to help employees save for retirement medical expenses. Enjoy this edition of PLANSPONSOR Weekend, which focuses on health benefits and HSAs.
The Employee Benefit Research Institute (EBRI) and Greenwald & Associates have released their findings on the impact of high deductible health plans (HDHP) on the behavior and attitudes of health care consumers. The findings show that consumers of HDHP are more engaged with their plan than those not in a HDHP, and that they have many characteristics equated with greater financial stability.Read more >
A report from Cerulli Associates suggests that pairing health savings account (HSA) and defined contribution (DC) plan communication and administration and modernizing HSA investment menus can help to position HSAs as retirement savings vehicles.Read more >
MediKeeper suggests using available data to better personalize programs, using social interaction to encourage wellness program participation and making virtual programs available to reach more of the workforce.Read more >
The 2018 Health Enhancement Research Organization (HERO) Scorecard Progress Report also found offering targeted lifestyle management services and having a formal, written strategic plan in place for well-being improve physical wellness program outcomes.Read more >
Transformation in health care delivery, focus on high-dollar claims and drug costs, and continued movement to account-based plans are among the list for what employer health benefit providers and advocates see happening in 2019.Read more >