Defined Contributions and Wellness Solutions
How Defined Contributions Work @TextFields.Render(Model.Headline1Type,>
In a defined contribution plan, the employer designates a fixed amount of money for each employee. Employees then use that money to purchase insurance products that meet their specific needs and those of their dependents. An intuitive, online enrollment process helps employees shop for insurance products by answering healthcare questions such as how often they visit the doctor, if they have dependents, if they are concerned about prescription costs, and how much they would like to allocate for their premiums and deductibles. Employees can use pre-tax dollars to buy additional insurance or put money in an account, such as a HSA, for qualified health care expenses. The result is the ability for employers to lock in healthcare budgets, reduce administrative work, save thousands of dollars in taxes and premium expenses and create real choices for employees.
How Wellness Solutions Complement CDH Plans @TextFields.Render(Model.Headline2Type,>
One of the easiest wellness incentives is to offer an additional HSA or HRA contribution to employees who complete a health and wellness initiative. And when wellness contributions are made, we'll make sure to encourage employees along the way with wellness-specific messages including descriptions on their account statements.
At HSA Bank, we can integrate with a variety of wellness activity tools and vendors, making it easy for your employers to work with us on their wellness initiatives.
Pair our account-based benefit solutions to your wellness incentive program to maximize the return in your CDH program. Incentive points can be converted into dollars, which can go into a Wellness-specific account, an HRA, or an HSA.