High-Deductible Health Plans: Don’t Let the Name Scare You Off
Employees have become more focused on their financial health in the wake of the COVID-19 pandemic. As a result, American workers are paying closer attention to their workplace benefits. A recent consumer survey from Voya shows that nearly 6 in 10 benefit-eligible employees (56%) spent more time reviewing their benefits offered by their employer during their most recent open enrollment period.(1)
This is good news and totally understandable: American workers want to protect the health of their families and select benefits coverage at a price they can afford. Industry research shows health care costs are rising twice as fast as incomes,(2) which means — now more than ever — it’s important not to overspend on health benefits. However, employee bias toward certain health plans could be influencing their decision, which could lead
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