The Consumer-Directed Health Conference 2004 commenced in Chicago with the expertise of different speakers presenting new information regarding Health Savings Accounts (HSAs).

Dan Perrin, Executive Director of the HSA Coalition, presented "HSAs 101: How to Explain HSAs," an overview of the benefits HSAs can bring to employees, employers and individuals. He suggested how to better explain HSAs to potential users by emphasizing the monetary gains, instead of highlighting the higher deductible rates first. Perrin discussed the impact of HSAs to other health care options, such as Medial Savings Accounts (MSAs) and Health Reimbursement Accounts (HRAs), and how each compared to the HSA concepts. He also discussed the U.S. MSA pilot, having 65% of the funds deposited over a year remaining at the end of that same year.

Presenter Ric Joyner, President of the National Association of Professional Benefit Administrators (NAPBA), covered the necessary tools and concepts for employers to know regarding HSA adoption and plan designs. He noted the different options for employers when faced with the left-over money from health plan roll-overs, such as lowering employees' premiums or offering more benefits for the next year. Joyner showed different plan designs, such as installing a flex spending plan and limited HSAs, which would take effect by the employer putting the employee's left-over funds into the second year of operation. Through these models, he explained the need for an employer business plan due to the high costs of health care options.

Susan Nash, a law partner of McDermott Will & Emery, explained the legal and plan design issues for employers regarding HSAs. She discussed the legal requirements for HSAs and other High Deductible Health Plans (HDHPs) and how they interact with cafeteria plans. Nash covered the application of the ERISA rule, which doesn't apply if the employer doesn't follow a list of actions concerning the funding of HSAs and availability to employees. Within the five implementation issues surrounding HSAs, Nash explained how employer involvement also ties back into the ERISA rule, which most employers try to avoid because they don't want to lose money.

JoAnn Mills Laing, President of Information Strategies, Inc. and author of The Small Business Guide to HSAs, presented marketing strategies and ways to integrate HSAs into large or small businesses. Laing explained the economic projections of HSAs, which are predicted to be 20 million by the end of 2006. She discussed the importance of an effective marketing plan, including researching the particular workforce, using key selling points and selling to specific groups, who each have different standards for their health care policies and benefits. With the main selling points being money and tax dollar savings, her other points are geared towards people who are reluctant to switch to an HSA. Laing also gave examples on how to sell HSAs through peer marketing, one-on-one discussions and utilization of opinion leaders within an organization. Her ten-step plan to ensure HSA integration for employers was accompanied with a timetable and improved communication ideas.

Closing the workshop was Meredith Baratz, Vice President of Enterprise Solutions Provider iPlan, who emphasized the importance of employee education and engagement of HSAs in a potential participating business. She explained the power of choice for the employee, giving them more freedom and acceptance of their health care plans. "Help them understand that there are trade-offs," said Baratz. "Do the math." She also discussed how the best way to influence an employee to switch to an HSA is by telling them what the will directly gain, which will lead to a call for action. Baratz said creating an image for HSAs and making presentations fun and interesting will keep employees engaged and involved in the process. For the future, she talked about the evolution of plan designs and how the advancement of technology will further educate consumers about health care.

Conference attendees, including employers and other health care professionals, left with informational brochures about HSAs and ideas on the impact of HSAs for their own workplace. More information regarding HSAs presented at the conference can be found at www.hsainsider.com.