It's time to embrace a new approach that leverages the power of NeuroMarketing to reframe the conversation around high-deductible health plans (HDHPs) and voluntary benefits (VBs).

By shifting the language and doing a better job of highlighting the advantages of HSAs, we can help employees make better-informed decisions and optimize their benefit portfolios. Not only will employees be moving towards healthier, more financially secure lives, but...

• Employers will benefit from more employees enrolling in (usually) lower-cost health plans

• Consultants and brokers will benefit from having guided their clients towards more stable and sustainable plan designs

• Enrollment vendors will benefit from higher voluntary benefit (VB) sales / conversion rates

Using language more proactively
Let's start by recasting HDHPs in a more favorable light. Instead of using a term like "Bronze" (that easily implies an inferior-benefit plan), we can - and perhaps should - refer to these plans as

• "The Gold Plan" or a

• "Consumer-Directed Plan," or a

• "Self-Directed HSA Plan" or even an

• "Employee-Directed HSA Plan"

Such a simple change in vernacular could significantly impact how employees perceive these plans. By emphasizing the employee's (consumer's) role in driving their healthcare decisions, we can empower them to take more control over their health and financial well-being.

It's a subtle but powerful shift that can make a world of difference in employee engagement and participation. 

The too-often-overlooked power of HSAs
All of us in the "benefit world" have known for years - and I think most of us have believed - that combining a Consumer-Directed Plan with an HSA is a smart play for most (not necessarily all) employees.

As we all know, HSAs offer unparalleled flexibility and tax advantages, making them a powerful tool for employees to manage their healthcare expenses. By contributing pre-tax dollars to their HSAs, employees can

• save money on their healthcare costs

• pay for certain expenses that health plans don't typically cover

• build a nest egg for future medical - and even retirement - expenses

It's a win-win situation that deserves more attention in our benefits communications. We need not only to educate employees about the long-term benefits of HSAs but also market them in terms of how they can be used to increase flexibility today, and to create a more secure financial future.

The advantage of lower payroll deductions
Another key advantage of Consumer-Directed Plans is the (often, if not always) lower payroll deduction cost compared to traditional PPOs. This is where the real opportunity lies for employees to create a personalized benefit portfolio.

By freeing up cash that would otherwise be spent on higher PPO premiums, employees can allocate those funds towards enhanced VBs that cater to their specific needs and desires. Whether it's accident insurance, hospital indemnity, critical illness, or other coverages, VBs offer a level of customization that traditional health plans simply can't match.

By highlighting the potential savings and the ability to tailor benefits to individual needs, we can help employees see the value in Consumer-Directed Plans and VBs.

Are PPOs really the "gold standard"?
It's easy to think a PPO is "better" because of lower deductibles and maximum out-of-pockets.

When we consider the bigger picture – the combination of lower payroll deductions, HSA contributions, and tailored VBs – the Consumer-Directed HSA plan will end up being the "best" overall program for most employees.

According to Statista, the average out-of-pocket healthcare expense per capita was $1,341 in 2020 and $1,425 in 2021 - so even if we stipulate that the 2024 number may be, say, $1,800 - how many employees actually hit their Maximum OOP in any given year? I doubt it's more than 30%.

By educating employees about how these elements work together, we can help them make smarter, more informed decisions about their benefits. It's not just about the immediate cost savings, but also about the long-term financial benefits and the ability to create a benefits package that truly meets their needs.

The value of VB health screening / wellness benefits
Many VBs include health screening / wellness benefits that pay cash back to employees and dependents who get routine preventive services, such as annual check-ups, test, well-woman exams, etc. These benefits are often paid at 100% by the health plan, meaning that the cash wellness benefit from the VBs is essentially "found" money for the employee.

It's a tangible reward for taking care of oneself, and it's a powerful motivator for employees to engage with their benefits. By highlighting these wellness benefits and the potential for "free money," we can encourage employees to take a more proactive approach to their health and well-being.

NeuroMarketing for employee benefits
To truly maximize the impact of this conceptual framework, we can go beyond mere benefits communication and embrace benefits marketing. By using psychographic profiling to tailor messaging to each employee's unique world views, values, preferences, and priorities, we can create a meaningful connection that resonates on a personal level.

We can answer the unspoken questions that are always on employees' minds: "What's in it for me?" and "Why should I care?" As we often like to say, "Transmit on the frequency they're already listening for."

By addressing these common but often unspoken employee concerns head-on - and highlighting the tangible benefits of Consumer-Directed Plans and VBs - we can drive engagement and participation like never before.

A breakthrough opportunity
For employee benefit consultants and brokers, and voluntary benefit sales and enrollment firms, this presents a tremendous opportunity. By embracing neuromarketing techniques and reframing the conversation around HDHPs and VBs, you can

• differentiate yourself in a crowded market

• provide unparalleled value to your clients

• help employees make better decisions

• optimize their benefit portfolios and, ultimately

• help them move towards healthier, more financially secure lives

It's a complex interplay of factors that requires a nuanced approach, but the payoff is well worth the effort.

Turbocharging your clients' 2025-2026 benefits strategies
Given that 2025 benefit plans are now "etched," let's look to leverage the power of neuromarketing throughout the rest of next year, as we're eyeing 2026.

• We can create a more engaging and effective benefits communication strategy

• We can help employees understand the true value of Consumer-Directed Plans and VBs

• We can use this combined neuro-marketing and plan design approach as part of a new-client-acquisition strategy by showing employers how CDPs and VBs can work together to create a more personalized and comprehensive benefits package for their employees

• We can highlight the potential for cost savings, the flexibility of HSAs, and the peace of mind that comes with tailored VBs.

And we can do all of that all in a way that will resonate with each individual employee, based on their unique needs, preferences, and priorities. 

This is about creating a win-win-win situation for everyone involved. Employees get a benefits package that truly meets their needs and helps them lead healthier, more financially secure lives. Employers get a more engaged and productive workforce, with lower healthcare costs and higher job satisfaction. And benefits professionals get the opportunity to make a real difference in people's lives, while growing their business and staying ahead of the curve.

The last word
Let's embrace the future of employee benefits and take a more innovative, data-driven approach to benefits communication and employee engagement. By leveraging the power of NeuroMarketing, and reframing the conversation around HDHPs and VBs, we can create a brighter and more secure future for everyone involved.

The time to act is now – are you ready to lead the charge?

~ Mark Head
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