HSA Experience - Good or Bad

HR Hat

We are considering adding a HSA as an option next year. If you have one, I would really appreciate your feedback as to:

How it has been received by your employees?
What problems have cropped up with your HSA plan?
What percentage have the HSA vs. other plan?

Thanks for your help.

Jim

cnghr

We've offered an HSA for several years now. Although it's never been a big seller with our employees, we have a few who have thought all along that it was a great idea and have participated in it from the beginning. At open enrollment this year we had probably a third of the employees who were on the HSA switch to the other plan for one reason or another. So, in terms of how it's been received, I'd say the reception has been lukewarm, but we still feel it's good to offer the employees the option.

The only problems that have cropped up with the HSA have really only been with the bank that provides the accounts. Early on I was having problems with them getting the employee's contributions put into their accounts in a timely manner, but that seems to have resolved after I talked with someone there and complained about the way it was being handled.

Currently, about 9% of our covered employees are on the HSA, and at the highest it's been about 16%.

HR Hat

[font size="1" color="#FF0000"]LAST EDITED ON 11-04-08 AT 12:55PM (CST)[/font][br][br]Thank you for your input.

The Management Team has tentatively approved adding this as an option next year. We'll have to get busy and schedule meetings with staff soon so there is enough time for the paperwork to be done by the end of the year.

Jim