Key takeaways:
- Roche uncovered that stronger HSA investment depended on addressing three core barriers: employee concerns about out-of-pocket costs, confusion about how HSAs work, and the challenge of reaching a diverse workforce across roles and schedules.
- By partnering with HealthEquity to deliver practical education, tailored guidance, and targeted communications, Roche helped employees better understand HSAs as both a healthcare spending tool and a long-term savings and investing vehicle.
- The result was stronger investing behavior and a greater financial confidence, with 39% of HSA holders investing and average investment balances reaching $27,600, demonstrating that the right communication strategy can improve both employee outcomes and benefits performance.
Closing knowledge gaps around benefits can be difficult, especially with a diverse workforce spanning multiple roles and time zones. But what if you could provide the kind of tailored information employees need to be confident in their choice?
Roche, a San Francisco-based biopharmaceutical and technology company with over 21,500 benefits-eligible employees, knew that strong benefit offerings were critical to attracting and retaining employees in the highly competitive Bay Area. They partnered with HealthEquity to clarify the benefits of HSAs to help their employees become more secure in their health and finances.
What’s holding employees back from investing in their futures?
Designing a robust health plan is important, but inspiring employees to truly participate brings a unique set of challenges. Roche experienced this first-hand, finding that employees who were already using their HSA had built impressive average balances of $11,100 – over double that of the industry median of $5,200 – but many employees still didn’t understand the long-term value of HSAs.
The benefits team took a closer look and uncovered three main obstacles standing in the way of greater HSA engagement:
- Investment worries and concerns around out-of-pocket expenses
- Confusion around how HSAs work
- Effectively educating across a wide array of roles and schedules
Roche Reward Partner Michon Caton saw the opportunity to encourage stronger savings and investing behaviors across the platform.
“Our philosophy is to really help employees save, whether it’s retirement or healthcare. Employees sit around and talk about the benefits their company offers.”
– Michon Caton, Reward Partner, Roche
How do you close the HSA knowledge gap?
To reach their goal, Roche partnered with HealthEquity to proactively address common questions and showcase the value of HSAs. They offered practical education to address cost concerns, highlighting how the employer seed reduces out-of-pocket costs, empowering employees to feel more confident about their benefits.
“I always tell people: You’ve got to start early. You need to save for retirement, which includes saving for medical expenses.”
– Michon Caton, Reward Partner, Roche
With HealthEquity’s E360 Engagement program, Roche employees receive targeted, personalized guidance that walk them through how to best use their HSA through their savings journey.
Roche also used the BeneFIT Education program during enrollment season to boost benefits literacy across a diverse workforce, using multiple communication channels for maximum reach:
- Webinars scheduled for flexible access
- Targeted emails and home mailings
- Tailored flyers for onsite business fairs
The education helped employees understand both the HSA basics as well as the importance of long-term savings and investments. By combining practical education with accessible support, Roche enabled employees to understand their options and confidently choose what worked best for their health and financial futures.
How did Roche improve healthcare cost security for their employees?
Roche’s benefits team turned ambitious goals into impressive results by focusing on tailored communication and practical education. By addressing employee concerns and making HSA benefits easy to understand, they empowered more employees to take control of their healthcare decisions.
Roche achieved standout results:
- 39% of HSA members investing
- An average investment balance of $27,600
These results show a real change in how employees understand and use their benefits. By providing clear guidance and effective communication, Roche improved cost security and empowered employees to maximize their health savings.
Learn more about Roche’s success story by reading the full case study here.
