Health savings accounts (HSAs) are a great way for employees to take charge of their health care costs. As an employer, you play a critical role in providing education and resources so employees can decide if an HSA is the right choice.
This step-by-step communication “playbook” includes everything you need to communicate the benefits of HSAs to your employees and help them get their accounts set up hassle-free to use now and into the future.
Introduce the HSA
Whether you’re introducing HSAs for the first time or updating new hire orientation materials, it’s a great opportunity to educate employees on the value of HSAs. Give them answers to basic questions like “what is an HSA?” or “why is my employer offering this benefit?” and “when will this be available?”
This customizable communication can be emailed to employees to introduce HSAs and to familiarize them with SelectAccount as your HSA administrator. Designed to be a message from your human resources leader or team, the letter can be used for both new hires and existing employees during orientation, as well as for pre-open enrollment education.
Go beyond the basics
Some employees will have questions beyond the basics and will look to you for more details. Be prepared to answer questions like “how is an HSA funded?” or “how much do I need to contribute for my family’s needs?” and “how do I get started?”
Provide employees with this easy-to-use and engaging HSA overview, or better yet, link to it in the introductory HR email. This guide contains specific details about how the account works with an HSA-qualified health plan, which eligible expenses are covered, and more.
Show or post a video
We suggest you provide these short two-minute videos to give your employees another way to learn about HSAs.
If you are offering multiple health spending account options, share this product comparison chart to help employees understand the differences.
This chart is a Word document that is editable to allow you to make changes and add or remove products to fit your communication needs.
Schedule informational meetings
Sometimes face-to-face communication is best. Schedule informational meetings so your employees can have one-on-one discussions and ask questions. You can also provide some of the frequently used enrollment forms and explain what to do with them. Before your meeting, review our HSA fact sheet. This fact sheet covers basic questions and answers you may run into as you introduce the HSA account.
Share a PowerPoint presentation that gives an overview of HSAs – This simple presentation walks through the basics of an HSA and includes hypothetical examples of an HSA in different situations. Get the PDF version.
Provide more information about SelectAccount HSA investment options with this PowerPoint presentation. Highlight the benefits of investing to maximize retirement savings.
Provide the HSA worksheet – This easy-to-use worksheet shows employees how to estimate their potential costs and savings with an HSA. Using their own information, employees can use real-life situations to explore how an HSA might work for them. (Download the worksheet in Spanish)
Support employees during enrollment
Congratulations! Your employees understand the value in making the most of their health care dollars and have decided to enroll in an HSA. You can continue to play a key role by ensuring they have access to the resources they need to open and use their accounts hassle-free.
Offer or share these frequently used enrollment forms to help employees get started with their account:
- HSA one-time IRA rollover request form: Authorizes a one-time rollover of funds from an employee’s IRA to an HSA.
- HSA transfer request form: Authorizes transferring an employee’s current HSA into a SelectAccount HSA.
Provide employees with direct access to their new online account by posting or providing a link to SelectAccount’s mobile-enabled website at www.SelectAccount.com. The site works well for any screen size—whether it’s a desktop monitor, laptop, tablet, or mobile phone.
Remind employees where to access educational resources – you can do this with a simple email with a link to information and forms.
Promote the customer support phone number: 1-800-859-2144.
Reference this information about the Group Online Service Center, which you can use to monitor and manage your group’s SelectAccount benefits.
As always, we’re here to help. If you can’t find the answers you’re looking for online, give us a call at 1-888-460-4013 8 a.m. to 5 p.m. Central Time, Monday through Friday. Or, you can contact your account manager.