Letting Employees Know about New HRA...How To?

2112Greg · 10-22-2008, 12:02 PM

I just got out of a meeeting with someone I used to do business with (in another industry) and was talking about their current group coverage with UHC. They are looking for ways to reduce costs (spending about 20k per month now). They have a 90 person company with about 30% participation in the UHC plan.

I've proposed an HRA to them and they want to move forward by gauging interest. So they've asked me to create some kind of printed communication, like a flyer or something, they will distribute to all 90 people letting them know about these possible changes. Right now the company splits the premiums 50/50 with the employee and on the employees with families, they are paying over 1200 dollars per month (600+ family).

It's a roofing company, so it's mostly blue collar.

What are the most important things to convey in the flyer, in your opinion. Obviously the cost savings are key. Making sure they know their coverage wouldn't be compromised, as well.

What else would you put in the flyer?

InsuranceGuru · 10-22-2008, 12:57 PM

Everything posted here:

Health Reimbursement Arrangements (HRAs)

... should be provided in some form on the flyer.

Obviously, if you're not selling for Aetna, you should find similar statistical information from the company whose HRA you are selling. You might try looking for an online flyer from the company you're selling through and just print that. If that's not available, then read below.

Since the HRA appears to offer a similar kind of benefit as the HSA, you should consider noting those differences for the employees so they can make an intelligent decision about it. Highlight the strong points for an HRA, but also inform them of any differences that might not be selling points - just raw information that helps them feel more confident in the decision they're making.

A well-executed flyer will highlight the selling points, but more importantly it will inform the customer of the differences between similar products, instilling confidence in the decision to buy and reducing the propensity for buyer's remorse because of the knowledge gained through the buying process.

Just my two cents, take it or leave it.