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© 2009 ADP, Inc. An FSA = Everyday Savings
Attention Employees If anyone in your family has braces, please come to the Benefits Department to pick up 25% off Coupons good at any Orthodontist in the US. 2 ©2009. ADP, Inc.
Attention Employees If you have a child in Day Care, please come to the Benefits Department to pick up 25% off Coupons good at any Day Care Center in the US. 3 ©2009. ADP, Inc. 2009. ADP, Inc.
Attention Employees If you signed up for the Medical, Dental, or Vision plan please come to the benefits department to pick up your $300 check. 4 ©2009. ADP, Inc.
Attention Employees If anyone in your family has drug prescriptions of any kind, please come to the Benefits Department to pick up 25% off Coupons good at any Pharmacy in the US. 5 ©2009. ADP, Inc.
For many employers, FSAs are often the most under-utilized benefit in a company The average employee participation is 15% of the benefit eligible population. The under-utilization of FSAs is surprising because: Employees can save anywhere from 20% to 40% on their payroll taxes. Employers save 7% on their payroll taxes. FSAs are a huge benefit to both employers and employees, yet they are under-utilized. 6 ©2009. ADP, Inc. The Reality of the Situation
7 ©2009. ADP, Inc. A Real Opportunity For Significant Savings Grew participation from 750 EEs (19%) to 2,400 EEs (60%) Participant contributions grew from an average of $800 a year to $1,400 a year. Average employee savings grew from $192 to $336 Employer Payroll Tax savings grew from $42,000 to $235,200. Employee savings based on 24% tax rate / Employer savings based on 7% payroll tax.
8 ©2009. ADP, Inc. Drivers of low participation 1.The decision to elect Medical, Dental, or Vision plans is not linked with the need to have an FSA to help reduce how much money the employee will spend each year out of pocket. 2.Communications to employees is not in consumer language they can easily understand, but is instead in Benefits Industry language that is easily misunderstood or confusing.
9 ©2009. ADP, Inc. Drivers of low participation 1.The decision to elect Medical, Dental, or Vision plans is not linked with the need to have an FSA to help reduce how much money the employee will spend each year out of pocket. 2.Communications to employees is not in consumer language they can easily understand, but is instead in Benefits Industry language that is easily misunderstood or confusing. Medically Eligible Expenses Pre-Tax Benefit X
Medical / Dental / Vision Having another baby!!! Hospital and Physician expenses Pediatrician 2-3 times a month Immunizations / shots for school Flu shots Kids dental visits 2-4 per year Adult dental visits 4 per year OB/GYN visits Adult Annual physicals Eye doctor visits Pulmonologist visits for child with asthma Sandy Brown Age 34 Married 3 young children Dual Income Household Pharmacy Asthma Rx scripts 4-12 per year 6-12 misc. Rx scripts for colds/infections (Amoxicillin, penicillin, etc.) Husbands cholesterol medication. Prescription for Migraine Headaches Dependent Care Daycare $600 a month A New Way To Tell The Story About FSAs: 10 ©2009. ADP, Inc.
11 ©2009. ADP, Inc. Presented in an easy to understand format
Multiple Media Options To Fit Client Needs Posters &Table Tents e-Video Messages An FSA helps you plan for daycare expenses at a discount. FSA saves you money. When you use tax-free dollars to pay for items and services youd normally pay out-of-pocket, its like you just used a coupon for up to 40% off! FSA isnt tied to a certain kind of plan. The FSA can cover out-of-pocket costs associated with any kind of HTML e-mails 12 ©2009. ADP, Inc.
13 ©2009. ADP, Inc. Sample FSA Enrollment Campaign Week 1 Email broadcast #1 Post FSA Video Story on Intranet Hang Posters and arrange Table Tents Week 2 Email broadcast #2 Post FSA Video Story on Intranet Week 3 Email broadcast #3 Post FSA Video Story on Intranet Targeted Enrollment Meetings Week 4 Email broadcast #4 Post FSA Video Story on Intranet Targeted Enrollment Meetings Open Enrollment Weeks Benefit Department Custom Message – Reminder that FSA is a key part of the benefits package Participant FAQs included in Open Enrollment Kit Week 1 Discovery Hey Thats Me! Week 2 More Discovery Hey Thats Me! Week 3 What is an FSA? How does it work? Week 4 Why wouldnt I do this? Open Enrollment Weeks I am signed up!
14 ©2009. ADP, Inc. ADP FSA Enrollment Program ADP will: 1.Provide an ADP resource to consult and help you organize an enrollment campaign. 2.Provide access to all the new messaging and material for you to use in your communications to employees. 3.Provide in the box campaigns that you can just plug and play. 4.Execute a multi-week e-mail campaign for you if you want us to. 5.Track employee activity and measure results.
Consumer Driven Healthcare
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Training for your groups. Enrollment Hotline Info Call in at I am with the EAM – Employers Association of Montana Benefit Hot Line Time.
Using Healthcare and Dependent Care Flexible Spending Accounts An FSA = An Opportunity to Save.
2008 Annual Enrollment Training Presentation April 2008.
©2007 Regence BlueCross BlueShield of Utah Regence HSA Healthplan A new kind of health care coverage [Enter Your Own Information Here] [Enter Your Clients.
© 2009 Regence. Private and Confidential. 1 Activate SM – Healthy Living Rewarded Rewards employees for healthy choices Employees pay their doctors online.
H.B. Fuller Company 2010 Open Enrollment: Helping you Buy Well, Use Well, Be Well October, 2009.
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The Center for a Changing Workforce 1 Everyday Low Benefits: Health Insurance in the Age of Wal-Mart The Center for a Changing Workforce Seattle, WA.
Group Name Plan Year: 00/00/ /00/0000 Presented By:
Welcome to the State of Kansas Group Health Insurance Basics Presentation Human Resource Services Spring 2009.
Need vs. Want o Filet mignon or hamburger o Vioxx or aspirin Employee noise and understanding Provider resistance Funds for accounts 2.
Custom Design Benefits, Inc.
© 2010 Wittenberg University Springfield, Ohio New Health Care Plan For Retirees Under 65 Effective Oct. 1, 2010.
Your Flexible Benefit Program take care ® by WageWorks.
Brace Yourself. It’s that time, and your insurance probably doesn’t cover this expense.
1 ISD 15 St Francis 2012 Retiree/COBRA Open Enrollment Meeting April 2012.
Easy to get appointments I can choose my doctor I’m part of the decision free to focus on my patients test results online excellent prenatal care great.
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