We've analyzed a healthy mix of quantitative and qualitative data from three consumer studies.
For those of us in the healthcare benefits administration industry, our work to help Americans offset costs and save for healthcare expenses has never been more critical—consumers’ overall health and well-being is on the line. Because our daily work focuses on the intersection of financial and physical health, we are uniquely poised to influence and impact consumers’ wellness on both counts. With this report, we feel that we can share the right messages in the right way at the right time to help consumers make good decisions.
Voice of the Consumer
Consumers explain how escalating healthcare costs are having a devastating effect on their financial health and preparedness.
Changing the Story
We provide the "How to" for solving the unique challenges consumers face achieving health and financial wellness.
To help consumers, we took an unflinching look at their confusion about health savings accounts (HSAs), flexible spending accounts (FSAs), high-deductible health plans (HDHPs), and making the best choices for themselves and their families.
Financial Health, Stress and Productivity
25% of Americans
would last less than four weeks if forced to live only off the money they have readily available.
27% of workers
report that their anxiety over healthcare expenses has grown worse since last year.
24% of workers
say forgoing healthcare services has impacted their productivity or engagement at work.
19% of respondents
are not confident their household is doing what is needed to meet their longer-term goals.
need help understanding the difference among different health insurance plan options
need help understanding the difference among different health spending accounts
need help determining whom to trust when it comes to looking after their financial and physical health
What Consumers Need Help With
About half the folks we surveyed expressed that they found the following tasks at least somewhat challenging:
Voice of the Consumers
“Sometimes the HR sessions just run long and the information is so technical it just goes over my head.”
“Traditionally, when people think of insurance, they think of PPOs. The idea of a high-deductible health plan is very foreign to them. I explained it to one of my co-workers who’s similar to me; she doesn’t need a ton of healthcare and is pretty healthy, pretty young. She was like, ‘Why don’t I do that?’ And I was like, ‘I don’t know. Probably because you just didn’t understand it.’ ”
“[FSAs] are like a maze or Tetris. Maybe it’ll work if the pieces fit, but right now it’s unclear and looks like it takes work to be effective.”