Seasons’ greetings from Businessolver! We’re wrapping up the 12 Days of Benefits, days 10 through 12:
On the tenth day of benefits, the industry gave to me 10 online hours. Americans spend 10 hours and 39 minutes each day online, according to Nielsen data. Use that time to your company’s advantage – add video, games, and apps to enhance your benefits communication strategy! Research shows that the brain processes visual information 60,000 times faster than text alone.
On the eleventh day of benefits, the industry gave to me 11 years of student loan payments. Forbes article reveals most Millennials estimate it will take 11 years to pay off their student debt. This is nothing to truly celebrate, but the fact that employers can help is a festive silver lining. Options are available to offer employees matching dollars to help reduce student debt, similar to an HSA. Millennials are the largest workforce demographic in the U.S., and according to a survey from American Student Assistance, 76 percent of respondents said their choice to take a job could swayed or decided based on an employer's willingness to help repay student debt. Combine that with the $1.3 trillion in collective U.S. student debt, and you have the makings of the next frontier in employee benefits – for Millennial workers and beyond. Help give workers the gift of more financial security!
On the twelfth day of benefits, the industry gave to me 12 years of HSAs. Happy 12th birthday to the health savings account! Created in 2004, HSAs have revolutionized healthcare and health benefits; according to Denevir, there are now more than 20 million Americans enrolled in HSA-eligible plans, representing more than $34 billion in assets.
Don’t miss any of the 12 Days of Benefits: 12 years of HSAs, 11 years of student loan payments, 10 online hours, …
- 9 percent offering pet insurance, 8 investment options, 7 billion volunteer hours,
- 6 boxes of contacts, 5 mooooore weeeeeeks (to send 1095 forms), 4 percent employment growth,
- 3 new cabinet members, 2 major mergers, and a full-replacement HDHP.
From all of us at Businessolver, have a joyful holiday season!