Here are four ways that TPAs, brokers, and consultants can use FSAs and HSAs to boost engagement and growth.

Educate the educators. The road to better outcomes begins with improving education and providing resources to support the brokers, consultants, and employers who are often the educators and primary point of contact during open enrollment. Be sure these trainers not only know the account basics like contribution limits, deadlines, qualifying expenses, and eligibility basics; but arm them with the life hacks that make FSAs and HSAs high-value solutions for individuals and families.

For example, surprisingly eligible expenses that support specific lifestyles or age groups, or how participants can reimburse themselves for expenses even if they don't fully fund their HSA. It's also helpful to provide interactive tools like calculators that can help employees understand the savings opportunities available to them and allow them to more accurately calculate their contributions and drive home the value of FSAs and HSAs.

Inspire action with personalized messaging. The premise of FSAs and HSAs may be straightforward – set aside pre-tax money to pay for eligible health care expenses – but to inspire action by employees, you need to show them how the accounts apply to their personal lives. Create and share examples of how employees at all different ages and stages of life can use and benefit from enrolling in an FSA or HSA.

For example, if an organization's workforce is predominantly young singles or couples who are starting families, share examples of how tax-free funds can be used to support travel and an active lifestyle, achieve pregnancy, or nurture a newborn. Similar scenarios can be illustrated for any age range or lifestyle. TPAs and brokers can also help employers identify benefits champions who are willing to share their own experiences with their coworkers during and after open enrollment.

Keep eligibility front and center. One of the biggest misconceptions about FSAs and HSAs is that contributions are only available for a limited selection of expenses. In reality, there is an extensive list of clinical services and products that are eligible for purchase with FSA and HSA funds. Unfortunately, most people don't realize their tax-free funds can be used to pay for everyday health essentials, from menstrual products and over-the-counter allergy medications to sunscreen and skincare to high-tech health devices. Give benefits teams, brokers, and employees easy access to a searchable eligibility list so they can see firsthand all the ways they can use these FSA and HSA dollars.

It's also important to demonstrate how employees can use these accounts to supplement traditional benefits and pay for services like prescription drugs, doctor visits, preventive care, chronic care management services, mental health counseling, acupuncture and chiropractic care, orthodontia, and other services that may not be covered – or are covered at a lower benefit level – in the health plan. This is an ideal way to reduce out-of-pocket costs for individuals and families and allow them to seek the care they need, when they need it.

Consider the benefits of technology integration. No one enjoys paperwork, but unfortunately, health care and financial transactions both require a certain level of documentation. TPAs, plan administrators, and brokers can remove or minimize these hurdles by considering technology integrations that allow employees to connect their FSA or HSA to their benefits portal so they can easily see their available balance, contributions, and claims; track expenses, and even enjoy cardless shopping for everyday health and wellness items.

Instant Insights /

Rethinking FSAs and HSAs to drive benefits participation and employer savings

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