Pig looking in mirror with coins Not surprisingly, when employers contribute dollars to their employees’ health care benefit accounts, enrollment dramatically increases. (Image: Shutterstock)

High-deductible health plans (HDHP) and tax-advantaged benefit accounts such as flexible spending accounts (FSAs) and health savings accounts (HSAs) offer significant cost savings opportunities for both employers and employees. Yet they are still widely underutilized and underfunded, translating into billions in missed premium and tax savings for both employers and employees.

Low consumer health and financial fluency has been well-documented and is likely a major contributing factor. But, it’s not just the employees that struggle to understand and articulate the value of these programs. Employer HR teams are on the front lines explaining these programs and responding to employee questions, and often their efforts fall short of the mark, something that is unfortunately reflected in their open enrollment adoption rates.

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