A consumer-directed health plan (CDHP) is one of the best ways for your employees, no matter their age, to not only become more aware about healthcare decisions they have to make, but also to save money for those medical expenses.
A CDHP allows employers to offer employees high-deductible health plans that can be paired with a health savings account (HSA), flexible spending account (FSA) or health reimbursement arrangement (HRA). These accounts can then be used to pay for medical co-payments, dependent care, dental and vision expenses and other qualified medical expenses tax-free1.
For an employee to really take advantage of the benefits of CDHP, they may need to adopt a consumer-directed healthcare mindset based on their own personal circumstances. While these circumstances differ from person to person, one of the easiest ways to determine how a CDHP can help your employees is through generational classification.