The 5 stages of health saving and spending

Optum conducted extensive proprietary research to better understand consumers and their health savings journey. We examined hundreds of experience documents and conducted ethnographic research across the country. By understanding how employees approach health saving accounts, we can help them take important steps toward saving and paying for health care. They'll feel more in control of their health and confident that their long-term health care needs will be met.

Your employees' health saving & spending journey

Optum has found that there are 5 stages in the health saving and spending journey, each with its own set of goals, mindsets and activities. Some employees may take months to move through the stages, others may take years. Four types of consumers are on the journey, and they have unique financial habits and decisions.

Click on each stage and consumer to learn more. Where are your employees on the journey?

What do you think?

After you've familiarized yourself with the 5 stages of the health savings and spending journey and the profiles, ask yourself:

  • In which of the 5 stages are most of your employees?
  • Which profile best describes your employees?

Traditionalists are most interested in HSAs as a financial planning tool to save for health care expenses in retirement.

  • Average age is 49 years old
  • Average HSA balance of  $2,000
  • $9,648
    average investment balance with Optum Bank
  • Represent  22%
    of Optum Bank account holders
  • Respond well to open and simple conversations about health accounts
  • Have high account balances but struggle with health care costs overall

Active families benefit most from assistance with a high deductible health plan funding gap and help preparing for unexpected expenses.

  • Average age is 44 years old
  • Average HSA balance of  $1,800
  • $10,377
    average investment balance with Optum Bank
  • Represent 20%
    of Optum Bank account holders
  • Are primarily concerned with achieving work-life balance
  • Have a dual income

Because they have a low propensity to invest, Stretched Singles would benefit most from longer-term savings planning.

  • Average age is 37 years old
  • Average HSA balance of  $1,120
  • $6,855
    average investment balance with Optum Bank
  • Represent 27%
    of Optum Bank account holders
  • Have the lowest average income and net worth
  • Contribute the least amount to their accounts

Knowing how to plan for retirement with their HSA and how to contribute an additional $1,000 after age 55 could help Achievers be more prepared.

  • Average age is 48 years old
  • Average HSA balance of  $2,100
  • $11,246
    average investment balance with Optum Bank
  • Represent 30%
    of Optum Bank account holders
  • Have the highest average income, net worth and account balance
  • Invest, but may not be contributing all they can to their accounts

QUESTIONS?

Contact an Optum sales representative to learn more about offering an HSA to your employees.

 Phone 866-306-1324
 Email inquiry@optum.com
 Contact Us Form


INDUSTRY-LEADING EXPERIENCE WITH HSAs

An Optum health savings account (HSA) provides employees with a tax-advantaged way to save and pay for qualified health care expenses now and into retirement — all while lowering your administrative overhead.
 Learn more about our HSAs


*Investments are not FDIC-insured, are not guaranteed by Optum Bank and may lose value.