Someemployers have stopped referring to the plan as a “high-deductiblehealth plan” or HDHP altogether, instead presenting it as the “HSAplan”–a savvy move that highlights the best parts of the plan.(Photo: Shutterstock)
For all the benefits of the high-deductible health plan(HDHP)—lower premiums, tax savings, more flexibility for patients,to name a few—it has developed a bad reputation among employees.The reason why could be right in the name: the phrase“high-deductible” isn't exactly attractive for employees who arehearing about it for the first time—and studies suggest that employees have limitedknowledge about what such plans entail.
The first impression matters, which is why the HDHP requiresmore than education. Employers are already addressing lowHDHP adoption by investing in education tools and plan decisionsupport during open enrollment, but it's time for benefits leadersto go even further. It's time to rebrand the HDHP.
Understanding the problem
According to a 2016 Harris Poll, employees tend to describeHDHPs with words like “risky” and “disappointing,” while positiveterms like “affordable” and “a good value” come up much lessfrequently. And while adoption of HSAs has been growing, only46 percent of those eligible arecontributing to an HSA.
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