We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byAlejandro Gorman
Modified over 2 years ago
© 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 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 s 12 ©2009. ADP, Inc.
13 ©2009. ADP, Inc. Sample FSA Enrollment Campaign Week 1 broadcast #1 Post FSA Video Story on Intranet Hang Posters and arrange Table Tents Week 2 broadcast #2 Post FSA Video Story on Intranet Week 3 broadcast #3 Post FSA Video Story on Intranet Targeted Enrollment Meetings Week 4 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 campaign for you if you want us to. 5.Track employee activity and measure results.
Using Healthcare and Dependent Care Flexible Spending Accounts An FSA = An Opportunity to Save.
Health Care Open Enrollment (coverage effective 1/1/2010) 1.
Disclaimer Each individual’s needs for health care vary and decisions should be made based on specific knowledge of your own needs. Cost information.
Health Care Coverage for You and Your Family! Welcome.
The content of this presentation is designed only for communication purposes and is not to be considered a contract, nor does it guarantee or imply coverage.
H.B. Fuller Company 2010 Open Enrollment: Helping you Buy Well, Use Well, Be Well October, 2009.
2008 BENEFITS OVERVIEW Employee Presentation. AETNA Benefits Offering Overview Multiple Medical Plans: HSA, HRA, HMO, PPO Multiple Medical Plans: HSA,
Flexible Spending Accounts What are they? How do they work? How can I enroll for 2014? BG
GEORGIA MILITARY COLLEGE HEALTH AND FLEXIBLE BENEFITS DESCRIPTION A general overview of the benefits available to you for health and flexible benefits.
Open Enrollment Meetings January 1, 2013 Goodwill Industries.
Consumer Driven Healthcare Health Savings Accounts Tax-Advantaged Health Care Funding Presented by Matt Holzemer Savage & Associates.
Section 125 Plan Flexible Benefit Please click into the section you’d like to view: 1. Flexible Benefit Plan Overview 2. Pre-Tax Group Insurance Premiums.
Smart, simple savings Flexible Spending Accounts The Texas A & M University System Plan Year: 9/1/2013 – 8/31/2014 Smart, simple savings.
Our Beliefs Respect Collaboration Excellence Integrity Community Destination: 2011 Enrollment.
Need vs. Want o Filet mignon or hamburger o Vioxx or aspirin Employee noise and understanding Provider resistance Funds for accounts 2.
Plan Year Effective September 1, Agenda TRS-ActiveCare Program Highlights –Enrollment Summary –Facts and Figures Health Plan.
Open Enrollment Plan Year 2014 November 11 th – 22nd, 2013.
Open Enrollment Meetings July 1, 2012 Goodwill Industries.
Introducing: Introducing: Low cost deductible supplement insurance plan that can reimburse your health insurance deductible up to $10,000 each year! Deductible.
©2007 Regence BlueCross BlueShield of Utah Regence HSA Healthplan A new kind of health care coverage [Enter Your Own Information Here] [Enter Your Clients.
Assurant Supplemental Coverage Matt Krueger. 2 Assurant Supplemental Coverage 2 Supplemental individual plans Generally not subject to health care reform.
FSAFEDS THE FEDERAL FLEXIBLE SPENDING ACCOUNT PROGRAM MORE MONEY IN YOUR POCKET!
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.
Facilitator: John Mueller, Executive Director of Human Resources Presenters: Tina Petrie, Director of Salary Administration and Benefits Kathy Eghoian,
Welcome to the State of Kansas Group Health Insurance Basics Presentation Human Resource Services Spring 2009.
Individual Medical Not for use in AZ. Individual Medical Plans 2 Individual Medical Peace of Mind Individual Medical is the best solution for customers.
2013 Benefits. Disclaimer This document is intended to be a high-level overview. The terms and conditions of the benefits described are determined solely.
About These Materials Families USA developed these materials under contract with DC Health Link, the District of Columbia's Health Benefits Exchange, for.
© 2016 SlidePlayer.com Inc. All rights reserved.