UMB Healthcare Services

Taking a marketing approach to its financial wellness strategy, Garmin realizes highest to-date increase in HDHP enrollment and HSA contributions.

UMB Healthcare Services is a longtime Benz client that delivers health care payment solutions, including custodial services for health savings accounts (HSAs) and private-label, multipurpose debit cards to insurance carriers, third-party administrators, software companies, employers, and financial institutions.

Recently, GPS-navigation developer Garmin approached UMB to help it improve key employee behaviors around HSAs, including increasing HDHP participation, increasing the number of HSA participants contributing personal funds, and increasing the number of HSA participants with an account balance equal to the HDHP deductible.

First step: research

After conducting market research using UMB’s HSAWorks^® tool—which provides industry-leading analytics and reporting to explore accountholder trends and behavior—UMB discovered Garmin associates who rejected the high-deductible health plan (HDHP) with an HSA did so for two reasons: because of health issues or because they felt it was too risky. For these groups, “high-deductible” meant paying higher out-of-pocket costs and having inferior coverage.

However, the Garmin associates who were already enrolled in an HDHP with HSA view the plan as a hedge against risk, and a way to play the “long game” of health care, including care during retirement, and come out winning.

These widely different views about HDHPs created a unique messaging opportunity that prompted UMB to tap us for our expertise.

In 2015, we developed a targeted financial wellness marketing strategy and campaign that encouraged Garmin associates to take the next step toward financial wellness—including enrolling in the HDHP, increasing HSA contributions, and more. Communications included a variety of media—emails, posters, enrollment guides, digital displays, and workshops.

Survey says?

According to a post-enrollment survey, the most memorable communication methods were emails, the enrollment guide, and workshops that covered the 401(k), HDHP, and financial wellness.

Additionally, more than one-third of Garmin associates said they’re doing things differently as a result of the HSAWorks pilot—which helped Garmin determine how to guide employee financial behaviors—or the Garmin financial wellness workshops:

Enrollment in the HDHP increased 31.2%, from 834 associates to 1,094 associates.
36% reported they changed how they manage their household budget, or changed their investments, saving habits, and/or benefits.
36% reported they are contributing their own money to their HSAs; will pay more medical bills out of pocket; have changed their investments, and/or have increased savings.

The HSA fits in beautifully with Garmin’s rich retirement benefits because it’s another savings opportunity—for today’s expenses and health care costs in retirement. When we initially launched the HDHP, we got about 13% enrollment. But many associates wouldn’t consider it because they viewed it as too risky. The HSAWorks pilot helped us understand associates’ perceptions about the HDHP so that we could take the scariness out of it.

Gene Lampe, HR Director, Garmin; Stephanie Prell, Benefits Administrator, Garmin

First step: research

Survey says?

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First step: research

Survey says?

Work With Us

Meet the Family