Convenience Care. Health Savings Accounts. Generic drugs. These have become familiar terms to Macy’s and Bloomingdale’s associates since the company began offering consumer-directed health plans last year.
“Both our country and our company were on an unsustainable path, leading to significant healthcare cost increases for Macy’s and our associates,” said Bill Tompkins, SVP/HR-Total Rewards. “In addition, Americans have long viewed healthcare as a means to fix them when they’re sick rather than a way to prevent illness in the first place. We want to focus on the well-being of our associates.”
Many of you already are becoming savvy shoppers when it comes to your health, said Tompkins. Here are some ways you’re taking an active role in managing your healthcare dollars:
“These efforts by our associates have had an impact on our healthcare costs,” said Tompkins. “We’ve been able to reduce healthcare payroll deductions and hold them flat for this year, providing our associates with money that they can save in their HSA accounts. And we’ve also made new investments in the health and well-being of our associates.” Among them:
See the infographic below to learn more!
“Although we’re starting to see our associates adopt a consumer mindset when it comes to their healthcare, there are some opportunities for us to address,” Tompkins said. “One example is to increase engagement in the funding of HSAs. Many associates may not be aware that they can hold receipts for smaller charges they pay out-of-pocket so they can be reimbursed when they have more money in their HSA. So they can let their HSA money grow to cover their deductible, then take out their old receipts and submit them for reimbursement, even if it years later.
“We also want to make sure our associates do everything they can to earn incentives,” he said. “This is another way to build HSAs and to cover any catastrophic issue while expanding preventive care. And we continue to focus on health and financial well-being with new programs to make it easier for our associates to save money and stay healthy.”
For more information on new ways Macy’s is helping you to stay healthy, visit the Live Healthy section of My Benefits on My IN-SITE or click on the “My Health” tab on mycigna.com.