Lack of educationOne of the biggest hurdles to overcome is that many people are shocked to see the amount of the deductible, even as they save money on their premium. And on top of that sky-high deductible, they still have copays. If you want employees that would be better suited for an HDHP to actually sign up for a plan, you need to take the extra time to:
- Explain how HDHPs work and that there is a trade-off for high deductibles in exchange for lower up-front premiums.
- Provide custom, side-by-side medical plan comparison tables and different medical usage scenarios to illustrate which types of individuals are best suited for an HDHP and which ones are not. (This would include scenarios of individuals who may be high health care users who may not be well suited for an HDHP.)
- Explain how they can funnel what they save in premiums into an HSA so they can save their money for future medical expenses (more on HSAs later).