There is limited awareness among consumers of the long-term tax benefits of HSAs.
Institutions should use incentives to help drive top-of-funnel awareness of the virtues of HSAs, dispel misconceptions, and encourage purchase. This will occur when consumers learn the real value is not the incentive itself but the triple tax benefit when they max-out their annual contribution. Consider these questions when designing an HSA incentive:
- Is it simple?
- Is the “qualifier” hurdle too high?
- Do you make consumers wait too long to receive the incentive?
Download this article to discover the seven truths for designing incentives to speed adoption, drive education and motivate employees to maximize HSA contributions.