New Picwell DX Feature
Taking the guesswork out of Health Savings Accounts
When consumers are choosing health plans, the most cost savings usually come from enrolling in a high deductible health plan (HDHP) combined with a health savings account (HSA). But too often, lack of knowledge around HSAs: what they are, and how they work, deters employees from even considering them, even though it could put them in the best position financially.
Enter Interactive HSA. This revolutionary feature is designed to educate employees around the value of enrolling in and contributing to an HSA. Interactive HSA makes the process simple and easy with:
- Comprehensive education
- Gamified tools
- Custom contribution calculators
- Insights reports
Interactive HSA will educate and guide your employees to make better HSA decisions, and in doing so, will increase participation and contributions to your organization’s HSAs. Let’s take a look at these innovative features in more detail.
Interactive HSA uses a combination of text, video, and images to appeal to all employees regardless of current knowledge levels or learning styles.
The concepts are broken down into easy-to-digest modules and users can go back to any section as often as they want, whenever they want.
Innovative tools like the “Pick your Contribution” slider brings an element of fun into the formerly stressful process.
With this hands-on tool, users can easily move the slider to see how different contribution amounts will affect their risk level, helping to determine their optimal contribution amount.
Custom Contribution Calculators
Interactive HSA includes built-in per paycheck and tax savings calculators. When users adjust the dollar amount on the “Pick your Contribution” slider, the per paycheck impact calculator automatically adjusts to show exactly how much employees can expect to contribute from every paycheck.
At the same time, the tax savings calculator displays how much their tax-free contribution will save them on federal taxes.
Post-Enrollment Insights Reports
But the best part about Interactive HSA is its reporting capabilities.
After your employees utilize the tool, you receive insights reports. These robust reports provide vital stats like average contribution amounts and overall employee participation. You will be able to easily see the impact of Interactive HSA on your organization’s success.