UMB Healthcare Services Launches Innovative Toolkits to Help Employers Implement and Communicate Benefit Plans
September 13 2011 - 12:52PM
Business Wire
UMB Healthcare Services, a division of UMB Financial Corporation
(NASDAQ: UMBF), announced today the launch of three comprehensive
toolkits to help employers successfully implement and communicate
high-deductible health plans (HDHP) with health savings accounts
(HSAs). Developed in partnership with Benz Communications, a
leading HR and benefits communication strategy boutique, the UMB
Toolkits provide implementation, launch and ongoing communication
tools to better enable clients to educate employees, while meeting
their goals for HDHP with HSA adoption and use, and empowering
employees to become smart health care consumers.
UMB Healthcare Services developed these toolkits to help
overcome the two major hurdles to successful adoption: a lack of
adequate understanding of the administrative mechanics of
establishing HSA-compatible plans and a lack of effective employee
communication to garner adequate participation rates. In a recent
Aetna-sponsored poll of human resource professionals by the Society
for Human Resource Management (SHRM), more than half of respondents
were not comfortable with their level of knowledge about these
types of plans. Additionally, 77 percent of respondents reported
that they found it challenging to engage employees in getting the
best value from their plans, and to encourage them to focus on
their health and wellness.
With open enrollment now underway and HSA enrollment on the
rise, the need for communication support is particularly evident.
America’s Health Insurance Plans (AHIP) revealed that as of January
2011 more than 11.4 million Americans are now covered by HSAs in
conjunction with high-deductible health plans, a 14 percent
increase from 2010.
“High-deductible health plans with HSAs provide employers with
the much-needed ability to better engage employees in their health,
wellness and financial preparedness to meet current and future
needs,” said Dennis Triplett, CEO of UMB Healthcare Services.
“Realizing the benefits of these plans means effectively educating
employees to overcome the hurdles to participant adoption. The UMB
Toolkits will set a new industry standard for giving employers and
individual account holders the information they need to manage
their well-being.”
The UMB Toolkits were developed to support and
enhance communication throughout the open enrollment process and
beyond:
- Implementation Toolkit – Tools
and resources to help employers understand exactly what to expect
and provide support in designing their HDHP with HSA.
- Launch Communication Toolkit –
Comprehensive tools needed to successfully launch and garner high
enrollment in a HDHP partnered with an HSA, including best
practices, planning guides, timelines and a variety of
communication templates.
- Ongoing Communication Toolkit
–Helps employers continue to educate employees and families, and
promote benefit programs year round, to ensure satisfaction with
benefits.
“We’re delighted to have the opportunity to partner with UMB
Healthcare Services in creating these innovative education and
communication tools for companies focused on introducing
HSA-compatible health care plans,” said Jennifer Benz, Founder and
Chief Strategist of Benz Communications. “Our signature
employee-focused approach is built into the UMB Toolkits, providing
employers with everything they need to successfully implement,
launch and propel ongoing engagement in a high-deductible health
plan with an HSA.”
About UMB:
UMB Financial Corporation (NASDAQ: UMBF) is a financial services
holding company headquartered in Kansas City, Mo., offering
complete banking, asset management, health spending solutions and
related financial services to commercial, institutional and
personal customers nationwide. Its banking subsidiaries own and
operate banking and wealth management centers throughout Missouri,
Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona.
Subsidiaries of the holding company and the lead bank, UMB Bank,
n.a., include mutual fund and alternative investment services
groups, single-purpose companies that deal with brokerage services
and insurance, and a registered investment advisor that manages the
company's proprietary mutual funds and investment advisory accounts
for institutional customers. For more information, visit umb.com or
follow us on Twitter at @UMBFinancial.
About Benz
Communications:
Benz Communications is a benefits communications strategy
boutique creating integrated employee benefits campaigns for
employers committed to nurturing high-performing and satisfied
employees. Benz Communications' clients include Fortune 500
companies, Fortune 100 Best Companies to Work For, and small- to
mid-size companies. Additional information about Benz
Communications may be found at www.benzcommunications.com.
UMB Financial (NASDAQ:UMBF)
Historical Stock Chart
From May 2024 to Jun 2024
UMB Financial (NASDAQ:UMBF)
Historical Stock Chart
From Jun 2023 to Jun 2024