Benefits July 17, 2018

HSA Owners Are Better Health Care Savers than the Average Consumer

According to an Alegeus study, HSA users are more likely to be well-versed on specific plan details and how to estimate and control the cost of care.

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A new Alegeus study identifies health savings account (HSA) owners as the savviest health care consumers. 

The study, which surveyed over 1,400 U.S. health care users, finds HSA participants are more well-versed in health care concepts compared to the general population. From interpreting specialized documents to understanding term language, these users are more likely to feel confident navigating throughout the system, with 39% suggesting they feel confident while deciphering health insurance details. Additionally, 34% say they feel confident examining plan details to determine health plan costs, 38% feel confident when reading terms for plan coverage, and 51% feel confident while analyzing important documents.  

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Twenty-five percent of HSA participants place an increased emphasis on cost reduction, 23% say they are likely to base decisions on costs, and 44% hold a confident attitude overall when anticipating out-of-pocket costs.

Concerning spending behavior, HSA participants are more practical than those not contributing to an HSA. These participants are more likely to research and compare costs before making a purchase (46%), determine prices before receiving services (43%), research the quality and effectiveness in a product or service (42%), and seek respective alternatives (37%).

The survey reveals only 13% of HSA participants have invested their account assets, and overall, accumulated account balances are relatively low, with only 11% of participants maxing out their HSA contributions. However, the survey shows 38% of participants recognize the need to contribute more, and therefore many say they plan to do so in the future. Even so, these consumers place larger emphasis in their savings, with 80% revealing they would save aggressively for health care costs. Sixty-eight percent have prepared a savings goal and 57% would likely allocate any unexpected extra funds towards health care savings. 

More information on the study can be found here.

Break from the Grind July 17, 2018

Some Employees Could Use More Deodorant in Summer Months

XpertHR shares recommendations to help employers address summer workplace issues.
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The summer months often present unique issues for employers when it comes to dress codes, social events, and hygiene, among other things, says a new XpertHR report on summer workplace issues.

 

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Many employers allow employees to dress more casually in the summer months. However, sundresses, midriff baring tops, spaghetti strap tank tops, and short shorts, or any other excessively revealing clothing is never appropriate for a professional setting.

 

Xpert HR says it is important to communicate the summer dress code policy to all employees and train supervisors so that they know:

  • The employer’s expectations;
  • When the policy is in effect;
  • What is considered acceptable workplace attire (e.g., golf shirts, khakis, sundresses); and
  • What is considered unacceptable workplace attire.

 

In addition, during the warm summer months, body odor and other hygiene issues may become more prevalent. An employer should address such issues head on before they have a negative effect on productivity, health, safety and public image.

 

According to XpertHR, a grooming policy should provide notice regarding the employer’s expectations regarding employee hygiene at work. The policy should assure supervisors and employees that any issues will be handled in a sensitive manner so as not to embarrass employees. XpertHR warns that an employer should remember that poor hygiene and/or body odor may be related to a disability or a religious belief, and therefore should be prepared to provide a reasonable accommodation.

 

The report also suggests an employer should make sure that its policies regarding vacation or paid time off (PTO) are communicated to all employees and placed in an employee handbook. Further, such policies should be applied in uniform manner to prevent discrimination claims.

 

“A prudent employer should take note of the challenging issues the summer may present and develop a set of best practices for handling these issues in order to make the workplace more productive and efficient, as well as minimize the risk of employer liability,” says Beth P. Zoller, legal editor, XpertHR.

 

More recommendations to help employers address summer workplace issues are available in XpertHR’s report.

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