Each month Devenir highlights a selection of articles to keep you abreast of the latest trends and developments in the HSA marketplace.
A summary of the articles included in the January 2019 edition:
- EBRI Finds High Deductible Health Plan Enrollees More Engaged With Their Health Care Than Traditional Health Plan Enrollees
- How to Get the Most From a Health Savings Account
- Optum Enhances Data Analytics to Increase HSA Savings
- Treasury, Labor, HHS Recommend Bump in HSA Contribution Limits
- Consumers Maintaining Positive Health Savings Accounts
- Lively Drops Investment Fees, Offers No-Fee Health Savings Account
EBRI Finds High Deductible Health Plan Enrollees More Engaged With Their Health Care Than Traditional Health Plan Enrollees
EBRI just released their 14th annual Consumer Engagement in Health Care Survey aimed at examining consumer engagement and value-based health insurance design. This year, the study also took a closer look at national data on the growth of high-deductible plans and their impact on the behavior and attitudes of health care consumers with employment-based coverage or individually purchased coverage.
Optum Enhances Data Analytics to Increase HSA Savings
In order to raise HSA accumulation and raise awareness behind HSAs and heath care costs, Optum bank has updated its data and analytics tool, Health Finance Journey. The model, which implements “behavioral science and advanced analytics” to gauge why consumers behave the way they do, groups clients into microsegments based on mutual characteristics and incentives. These clustered, shared interests between consumers allows employers who sponsor HSA-qualifying insurance plans to develop targeted communications for their employees, which can then grow health care savings, says Optum.
Treasury, Labor, HHS Recommend Bump in HSA Contribution Limits
Lawmakers and the Trump administration should expand consumers’ access to Health Savings Accounts (HSAs) and Health Reimbursement Accounts, the Departments of Health and Human Services, Treasury and Labor told the White House. In a 119-page report, the departments laid out measures the Trump administration and Congress could consider to reform America’s health care system, including raising HSA contribution limits.
Consumers Maintaining Positive Health Savings Accounts
“We are continuing to see a growing market for HSAs, and with that comes a responsibility to provide education on accountholder behaviors,” said Ben Morris, president of UMB Healthcare Services. “Aggregated segmentation data can provide insights into employee population behavior that can help our clients deliver benefit strategies that will influence positive employee health decisions, engagement and financial wellness.”