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Designing Your HSA Program

Important considerations for HSA program design

HSA Employer Customer Service1-866-988-2006
One of the most important things to consider when designing a program is how you will maximize employee engagement. You’ve put a lot of time and energy into planning your benefits offering, and you want to motivate your employees to be actively involved in benefits selection.
Here are a few practices we have seen employers use. You may want to take them into consideration when designing your benefits offering1:
  • Limit plan choices. Too many choices make it difficult to assess each option.
  • Require all employees to re-elect benefits so they have to consider all plan options.
  • Offer the HSA-eligible plan at significant premium savings from other plans you are offering. An alternative is to use the money you save on premiums to make an employer contribution to your employees’ HSAs.
  • Consider the HSA-eligible plan deductible carefully. If set too high, the deductible can deter employees from choosing the HSA-eligible plan.
  • Consider offering a prescription drug plan that includes incentives for using generic drugs. The average cost of a generic prescription is about $25, compared to $211 for the average cost of a brand drug2.
  • Review Department of Labor Field Assistance Bulletins No. 2004-01 and 2006-02 for information on how to structure your HSA program so that it is not subject to ERISA1.

Contact us

If you have any questions, please contact the Employer Customer Service team at 1-866-988-2006, Monday through Friday, from 7:00 a.m. to 8:00 p.m. Central Time, or contact your relationship manager.
This information is intended to provide informational resources to employers. Please consult with your legal counsel about program design and how to prevent ERISA application to your HSA program. In this guide, Wells Fargo is providing examples that have worked for other customers. You will need to assess if they work in your situation. Wells Fargo does not give legal or tax advice. Wells Fargo Health Benefit Services, a division of Wells Fargo Bank, N.A., does not offer health insurance plans or wellness programs.
2 Highmark Inc., March, 2012.
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