Woman with piggy bank Over the past few years, employee usage of HSAs is showing a pattern of spending the funds, yet employers are saying “HSAs are for saving.”

When it comes to employees’ understanding of how to leverage their benefits effectively and find the best care at the right price, how confident are they? In a recent consumer survey, Further, a leader in health care spending and savings account administration, found that 60% of employees reported having a high confidence that they know how to fully leverage their health savings accounts (HSAs). Comparatively, 75% of employers say that employees have a high understanding of their HSA.

Even with the majority of employees reporting to have a high confidence in navigating the HSA world, 40% of employees report feeling less than confident in understanding their account, suggesting that employers are also overstating – or misunderstanding – how comfortable employees are with navigating their benefits. And, employees may be guilty of overstating confidence as well.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO Broker Expo 2024Event

The premier educational and networking event for employee benefits brokers and agents.

Get More Information
 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.