Wednesday, July 06, 2005
Transition assistance with HSAs helps employees
[Sarah Rubenstein, "Using Health Savings Accounts Cuts Costs, but It's Not Easy," The Wall Street Journal, 5 July 2005.]
This article tends to play up some issues that having a good insurance agent could resolve, but it is important to keep in mind that employers can't simply switch to high-deductible insurance policies and HSAs without offering their employees some guidance:
Mr. Danusis, who is a firm believer in HSAs, says he encourages all of his clients to get involved. It's difficult to get employees to embrace HSAs, especially early on when they haven't built up funds in their accounts and aren't yet thinking about HSAs' potential as a savings vehicle, he says. "It's almost like the tough-love situation with your children," he says. "You have to believe so much that you're doing the right thing, that you're going to guide everyone down the right path."
As of March, about 14% of consumers nationwide with this type of plan had obtained it through a small-business employer, according to America's Health Insurance Plans, an insurance trade group.
There is a basic pitch that bosses can make, Mr. Danusis says: Employees can either have HSAs, or they can pay out of their own paychecks for the higher premiums that are typical of comprehensive insurance. It's also vital for bosses to put company money into the HSAs early on so that it's not quite so tough for employees to adjust to the deductible, he says.
[Devon Herrick, "Health Savings Accounts: The Future Of Health Care For Kansans," The Flint Hills Center, 14 February 2005.]
[Sarah Rubenstein, "Using Health Savings Accounts Cuts Costs, but It's Not Easy," The Wall Street Journal, 5 July 2005.]
This article tends to play up some issues that having a good insurance agent could resolve, but it is important to keep in mind that employers can't simply switch to high-deductible insurance policies and HSAs without offering their employees some guidance:
Mr. Danusis, who is a firm believer in HSAs, says he encourages all of his clients to get involved. It's difficult to get employees to embrace HSAs, especially early on when they haven't built up funds in their accounts and aren't yet thinking about HSAs' potential as a savings vehicle, he says. "It's almost like the tough-love situation with your children," he says. "You have to believe so much that you're doing the right thing, that you're going to guide everyone down the right path."
As of March, about 14% of consumers nationwide with this type of plan had obtained it through a small-business employer, according to America's Health Insurance Plans, an insurance trade group.
There is a basic pitch that bosses can make, Mr. Danusis says: Employees can either have HSAs, or they can pay out of their own paychecks for the higher premiums that are typical of comprehensive insurance. It's also vital for bosses to put company money into the HSAs early on so that it's not quite so tough for employees to adjust to the deductible, he says.
[Devon Herrick, "Health Savings Accounts: The Future Of Health Care For Kansans," The Flint Hills Center, 14 February 2005.]
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