Employees often have a bias against high-deductible health plans (HDHPs) compared to more traditional health plans. There are ways to get past that bias and present plans effectively, according to a study by Voya.
Participants compared two plans that were identical in quality of care, access to care, and all other features beyond cost. Premiums and deductibles were the only differences. Sixty-five percent chose the PPO even though the study was designed so the HDHP was the optimal financial choice.
Eighty-nine percent of respondents said they just pick the same health plan from the prior year, especially those enrolled in a PPO. Sixty-three percent said they would pick the plan with the lowest deductible.
Naming the Plan
Participants were almost twice as likely to choose a PPO when the HDHP plan name included the words “high deductible.”
Offering Decision Support Tools
The study illustrates the value of decision-support tools to help employees understand which benefits are best for them as they work to build a secure financial future.
Contact your Regional Sales Representative for HDHP selling strategies.