Other key survey findings::

Enrollment in health savings account (HSA)-eligible health plans and health reimbursement arrangements reached a record high in 2020, with 19 percent enrolled in such a plan. Enrollment in health plans with high deductibles that were not eligible to be paired with an account continued its upward trend, too. Additionally, familiarity with terms such as consumer-directed health care or consumer-driven health plans was higher among high deductible health plan (HDHP) enrollees than traditional plan enrollees — most of whom indicated they weren't even familiar with such plans.
Nearly 70% of individuals were using their HSAs to pay for current out-of-pocket expenses, while 40% were using their HSAs to save for health care expenses in retirement. Almost 40% were using them to minimize taxes, and one-third were using HSAs to cover unexpected medical expenses.
About two-thirds of respondents reported they had a choice of at least two health plans, and HDHP enrollees were more likely than traditional plan enrollees to have such a choice. The most important aspects of health plans for consumers are the network of providers, ease of access to care, prescription drug coverage, low out-of-pocket costs, and low premiums. They also want a plan that is simple to understand.

In the wake of the pandemic, employers are refocusing the benefit strategies for 2021 and beyond, added Jerome (JT) Shilling, a partner at Mercer specializing in employee health and benefits. During his segment of the webinar, he noted that the asset management firm's 2020 National Survey of Employer-Sponsored Health Plans indicated companies want to keep health care affordable for their employees by creating value rather than shifting cost, increasing telemedicine opportunities, better engaging employees who work remotely, addressing inequities, and ensuring access to behavioral health care.

Instant Insights /

COVID-19 concerns top EBRI's 2020 consumer engagement survey

More From HR Executive

Related Stories

Recommended For You