Employers Can Do More to Encourage Employees to Contribute to HSAs
Nearly half of all employees enrolled in health savings accounts (HSAs) in 2017 did not contribute any of their own money to these tax-advantaged accounts, and are thus missing out on an opportunity to reduce their out-of-pocket health care costs and potentially save for retirement, the findings of a survey conducted by human resources solutions company Willis Towers Watson suggest. Healthcare The survey of 698 U.S. employers was carried out between June and July 2017, and reflects respondents’ 2017 health program decisions and strategies. The results showed that nearly three-quarters of employers (73%) are currently offering their employees a high-deductible health plan tied to an HSA, and that the share of employers offering HSAs is expected to rise to 83% by 2019. The findings also indicated that of the employers that currently offer HSAs, a majority (62%) are encouraging greater employee participation by contributing seed money to these accounts. The …
