No images? Click here
When it’s Important to Stay in the Know.
Helping Team Members Take Control of Their Health Spending
In today’s competitive market, the right employee benefits make a difference. Not only does a carefully tailored benefits package help a company stand out to job seekers, but it often enables them to retain top talent by creating a culture that supports team members’ well-being. One popular option that can benefit employers and employees alike is the health savings account (HSA).
HSAs offer tax advantages, boost employee satisfaction and help team members manage health care costs more effectively. Finding the right fit for your particular industry and operations is key. Here, our employee benefits pros offer tips to help you explore options that work for everyone when it matters.
Finding the Best HSA Plan for Your Business and Employees
Pair Your HSA Plan with a Quality HDHP: Remember, your HSA plan must coincide with a high-deductible health plan. It’s in team members’ best interest to find an approach that marries comprehensive coverage with affordability. Seek out HDHP plans that offer team members extensive options related to health care providers while also maintaining reasonable out-of-pocket spending limits.
Assess the Ease of Administration: Look for an HSA plan that simplifies life for all involved. For instance, user-friendly platforms that allow employees to review available benefits, manage accounts and make necessary payments put added control in employees’ hands while (ideally) lowering the number of questions and concerns an HR team must field. HSA debit cards and mobile app capabilities offer similar benefits.
Consider Employer Contributions: An employer’s offer to match or contribute to employee HSAs can significantly enhance the value of the benefit and encourage team members to take part. Even small contributions can have a substantial impact.
Evaluate Applicable Fees & Compliance: Your chosen HSA plan should comply with applicable IRS regulations while also being transparent regarding fees. Hidden administrative fees, for instance, can prove an unwelcome surprise to employees while lowering the benefit’s overall value.
The world of employee benefits is filled with acronyms that aim to streamline communication — yet still introduce confusion. What’s the difference between an HSA and an HRA? And where does the FSA fall in there? Here, our employee benefits professionals offer a handy rundown.
When You’re Leading the Way for Your Industry.
BCH ranked among the Houston Chronicle’s 2024 Top Workplaces and we've been proud recipients for 15 consecutive years. That’s every year since the award’s inception! Top Workplaces holds a special place in our hearts, as recognition is based solely on employee feedback. These wins indicate we’re doing something right with our BCH culture, and that team members appreciate us as much as we do them!
We were also honored to be named among Mployer’s Top Employee Benefits Firms for 2024! This award goes to companies who rank well in the independent firm’s evaluation of factors such as depth of experience, plan designs, ratings and reviews. As a team dedicated to being here for our clients when it matters, we’re grateful to know our services and expertise stack up!
BCH’s Risk Management Center Offers a Better Approach to Benefits
With the ability to easily monitor employee enrollment status and deadlines while streamlining new hire processes — and 24/7 employee access that gives them better control over their coverage — your Risk Management Center (RMC) offers meaningful support when it matters.
