Small Businesses using Health Savings Accounts to Attract Top Talent

Small businesses say that they are using creative, non-standard benefits programs such as telecommuting and flexible work schedules along with specialized benefits (such as flexible savings accounts, health savings accounts and supplemental life and disability insurance) to attract talent.

These were among the findings of a survey of 500 U.S. small- and medium-sized businesses conducted in November by TriNet HR, a San Francisco Bay Area, benefits and HR outsourcing company that specializes in working with small and medium-sized businesses.

“Today’s headlines understandably focus on people who have lost their jobs or are concerned about job security,” Burton M. Goldfield, president and chief executive officer of TriNet said. “But even in a difficult market, employers need to concentrate on motivating and incentivizing people to perform. You can attract and retain key employees if you have the right benefits strategy.”

Health Plan Innovation Take: This study seems to validate the idea that there is an opportunity for health plans to retain, and even grow, their small employer block of business if they get creative with their pricing, packaging, and marketing.

Read more about the survey.

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