Employee benefits insights you can use
For most employees, choosing benefits can be stressful and a key factor in their financial health.*
NEED NEW IMAGES
42% are likely to change employers due to benefits
52% would enroll in an HDHP and HSA if offered with an employer HSA contribution
38% want support for financial emergencies
These are the health and wellness trends you can focus on during this year’s open enrollment:
- Employee well-being: investment in holistic wellness (physical, mental, financial)
- Financial wellness: greater focus on income and benefit equity
- Decision support: tools that personalize and compare offerings
What benefits do employees value most across generations?
Employees are working (and living) longer than they did before, so a one-size-fits-all benefits strategy no longer works.** So, what does your workforce look like for the next few years, and how can you balance your benefits program to meet generational preferences?
- Comprehensive physical and mental health benefits and care
- Digital wellness apps and virtual care
- Emergency room services
- Annual, preventative health benefits and care
- Maternity coverage and family leave
- Workplace wellness and behavioral health support to combat burnout
- Student loan repayment and financial advice
- Virtual or in-person care
- Chronic health conditions coverage
- Caretaker benefits for their children and parents
- Retirement incentives and financial planning
- Traditional, in-person care
- Complex health needs coverage
- Medicare coverage
- Retirement catch-up
What new benefits can I offer?
Improve the employee experience by expanding your workplace wellness program. It’s a win for them and for you, too — happy employees stay with your company!
| Goal | Recommended offering |
|---|---|
| Boost retirement savings for Gen X | Health Savings Accounts (HSAs) |
| Support Millennials starting families | Dependent Care Flexible Spending Accounts (DC-FSA) Adoption Assistance plans |
| Help Gen Z plan for unexpected costs | Emergency Savings Accounts (ESAs) |
How can I increase open enrollment participation?
Five steps to boost benefits communication
Set goals: Determine what success means to your company by defining employee engagement and retention targets for your events and communications (e.g., meeting attendance, email opens, link clicks) and enrollments (e.g., enrollments by week, new enrollees, plan changes).
Develop a communication plan: Start 4 – 10 weeks ahead with a kickoff email, then plan channel posts (e.g., intranet, newsletter, Teams), reminder emails and any post event follow ups. Consider sending save the date postcards or posting notices in breakrooms.
Schedule events for flexibility: Offer morning, lunch and afternoon meetings both in-person and online for convenience and increased attendance. Enhance benefit fairs by adding provider virtual sessions with breakout rooms so employees can ask questions in real time.
Make it accessible: Link to flyers, videos, webinars and decision-making tools, like our health plan comparison calculator, and keep messages simple and brief so the materials can be the focus. Find everything you need in the Open Enrollment Resource Center.
Keep up engagement: Continue benefits education year-round by sharing helpful reminders and resources for tax season, contribution increases, adding beneficiaries or developing healthy habits.
Want to learn more?
Are you new to HSA Bank? We’d love to support your employee benefits and open enrollment!
