While typical health plans include a deductible, health savings accounts cover 100% of medical expenses in most cases. The effect has been profound in my small business. I thought my employees were on top of preventative measures, but in reality, it was too tempting to skip that dental check-up or physical knowing that they'd have to pay a fee. Blame it on human nature -- a small cost easily turns into a larger mental barrier. Removing that condition means they're more likely to deal with health concerns long before they become an issue, and the result is a better maintained workplace with less sick days and increased productivity. Linn Atiyeh Founder & CEO, Bemana https://www.bemana.us/practice-area/industrial/
The fact that health savings accounts don't expire annually seems like a little thing, but it's actually been a massive benefit to my workforce. Medical costs tend to be all-or-nothing: most years you're healthy, but when an illness or accident hits, it can be incredibly expensive. So, shifting from flexible savings accounts, which roll-over every year, means workers are more likely to have the funds they need when they need them -- and that's peace of mind that's hard to compete with. The result is a more secure, less worrisome team that's able to focus on the task at hand. Rob Reeves CEO & President, Redfish Technology https://www.redfishtech.com/fintech-recruiting/