HDHP Enrollment Hits All Time High in 2021
A recent study* shows that High Deductible Health Plan (HDHP) enrollment reached an all-time high in 2021, with over 60% of private-sector workers covered under the plan in some US states. Low monthly premiums highlight HDHP’s desirability. Rates of enrollment continue to climb as employers expand HDHP offerings to include Health Savings Accounts (HSA), a service that TPSC proudly provides.
Top 3 states in terms of HDHP enrollment rates in private-sector workers (2021):
Bottom 3 states in terms of HDHP enrollment rates in private-sector workers (2021):
District of Columbia (28.4%)
High Deductible Health Plan Best Practices
Employers of all sizes see value in HDHP and are learning new ways of supporting employee needs through additional resources. Perhaps one of the most supported methods is the use of HSAs.
Best Practices with HSA:
Offering HSA Contributions
Nine out of ten employers believed that offering HSA contributions will improve HDHP utilization.
Employer percentage of those who support: 90%
Employer percentage of those who implement: >80%
Investment Options Within HSAs
Investment options within Health Savings Accounts are the most implemented practice.
84% of employers offer Investment options for HSAsTPSC’s HSA Options
Employers agree that more education is needed to help inform employees of their HSA utilization options. While 98% of employers hold this viewpoint, only 70% are actively implementing educational resources.
17 out of 33 employers
place ongoing education in the top
3 recommended HDHP practices
Real-Time Pharmacy Tools
In an attempt to improve drug price transparency, employers recommend real-time pharmacy tools.
Employer percentage of those who support: 98%
Employer percentage of those who implement: 46%
Preventative Care Services
Employers can encourage employees to use preventative care services by covering medications’ pre-deductible costs.
Employer percentage of those who support: 96%
Employer percentage of those who implement: < 75%
Price Transparency Tools
Employers agreed that offering price transparency tools would be a great benefit to workers. Through these tools, employees can estimate care costs.
Employer percentage of those who support: 94%
Employer percentage of those who implement: 66.6%