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Analysis

Employers not confident in employees' health plan understanding

Selecting the wrong health plan can have far-reaching effects on physical and financial health.

so. Some of the reasons for poor choices include uncertainty about plan cost-sharing amounts, fear of a high deductible or out-of-pocket maximum and lack of plan evaluation. (Image: Shutterstock)

Employees lack clear understanding of their health plan choices, and just 10 percent of employers are very confident that their employees do understand their health insurance offerings.

So say a survey and white paper from HSA Bank. Although 75 percent of employers are “somewhat confident,” according to HSA Bank, that’s not really a vote of confidence. In fact, the report suggests that a top priority for HR professionals should be “raising employee confidence in plan selection through more effective education.”

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Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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