Welcome to a bright, shiny new year! Each year we start January with a new, positive outlook. We make resolutions to become more fit, smarter, and better with our money. After an unusual 2020, people are even more excited to start off the year right. With virtual learning options abounding, people are also focusing on the best ways to take in information. While it’s possible to glean something from every method, there are different learning styles that suit each individual’s preferences and abilities best!
To cater to every learner, Optum Financial works to create content that serves a range of needs. To start the new year, we reviewed some of the most common learning styles and the benefits education resources we’ve created for each. Use these to brush up on your own knowledge or share with clients and members to give them a better understanding of the benefits available to them.
Visual Learning
According to a study by neuroscientists at MIT, the brain can process an image in as little as 13 milliseconds…faster than the eye can blink! The power of visual learning cannot be overstated.
People who learn primarily by visual means like to draw, use graphics, and use colors when organizing their thoughts. Their best learning occurs by incorporating images, pictures, and visual media. When they want to understand something, they say, “show me.”
The prevalence of viral videos and memes is a true testament to how many people react visually, as they have much more impact than sharing just the written word.
At Optum Financial, we try to meet this need in two main ways: videos and infographics.
Videos
We have videos that explain everything about consumer-directed health (CDH) and employee benefits. They last less than two minutes because no matter the learning style, we still have to be considerate of your time and attention span. The language and images in these videos really boil down complex subjects into simple ones, while the fast-moving images still make them entertaining to watch. These are just a few of our favorites:
Individual HSA Video
This quick little video lays out everything a health savings account (HSA) can do, from allowing users to pay for health care before taxes, to using the account as an investment savings vehicle for retirement. All in a minute and a half. It happens so quickly, you won’t even know you’re learning.
A Tale of Two HSA Journeys Video
While we’re on the HSA topic, this is another video that demonstrates how HSAs can be used for various long-term savings strategies. Meet Joe and Jill, who are using different approaches to saving and investing their HSA funds. Joe contributes a smaller amount and chooses to save on taxes by using his HSA for health care costs, while Jill contributes the maximum amount and uses her money to reinvest. Watch to see how they ultimately reach their financial goals!
What is an FSA? Video
A Flexible Spending Account (FSA) is another great tool for helping maximize budget, because it offers participants the ability to use pre-tax dollars to pay for qualified medical care expenses. It’s different from an HSA because of the funds contributed must be used in that plan year, and there are different contribution limits and rules. Learn more in this quick overview.
Dependent Care FSA Video
Another voluntary benefit is the Dependent Care FSA, which allows employees to use pre-tax money for family care expenses, including elder care, child care, summer camp, and preschool. Taking care of family can be costly! So here’s a way to make that care more affordable. Take all of 57 seconds to visually learn about these dependent care accounts in this video!
Infographics
Videos aren’t the only way to address visual learners. Check out ConnectYourCare’s bank of infographics, which are carefully designed to make them easy to understand and visually appealing at the same time.
Which HRA is Right for You? Infographic
A health reimbursement arrangement (HRA) helps employers easily reimburse employees for health expenses while controlling costs. The arrangement benefits both employers and employees since employers can claim tax deductions for reimbursements, while employees can receive eligible medical expenses tax free.
HRAs are flexible and customizable, and they also have their own unique compliance and eligibility requirements. You’ve got:
- Standard Group Coverage HRA
- Qualified Small Employer HRA (QSEHRA)
- Individual Coverage HRA (ICHRA)
- Excepted Benefits (EBHRA)
- Retiree HRA
But with all the acronyms, varying options, and health care choices, which HRA should you use?
Calling all visual learners! You don’t need to just read about it – check out the visual aid that makes the different types of HRAs easy to understand.
FSA Spending Calendar
This FSA spending calendar helps account owners make smart spending choices each month. These suggestions help with planning how to spend down FSA funds, but you can actually buy these products and services any time during the year. (This calendar works for HSAs too!)
It’s just nice being able to actually see, all laid out at once, the spending choices available. A feast for the eyes!
Auditory Learning
Auditory learners remember and understand concepts better when they’re explained out loud. People who prefer this to other learning styles may like to talk with others, talk to themselves, learn from music and lectures, and don’t find as much value in graphics and diagrams. Approximately 30% of the population is made up of auditory learners.
Podcasts
Audio books and podcasts have been around for a while, and they’re only becoming more popular. In the U.S., 50% of all homes consider themselves podcast fans, and 115 million Americans have listened to a podcast. A staggering 68 million listen to podcasts every week.
Exclamation! of Benefits Podcast
As for the people who like to listen, let us introduce you to the ConnectYourCare podcast, Exclamation! of Benefits. On our podcast, we talk to experts in the employee benefits and finance industry about the hot topics of today. Guests make complicated topics simple to understand, walk us through common concerns, and give their educated insight into the industry.
The episodes are to-the-point, so you get the information you need right away. Here’s some music to your auditory learning ears …
For years, ConnectYourCare has hosted webinars that explain complex parts of the health care benefits industry, and the increasing virtualization of business has only increased their value!
For instance, our recent webinar ‘Making Benefits a Virtual Reality’, talks about navigating the open enrollment landscape. It includes tips for launching a virtual fair, best practices for communications, and choosing the best technology. Other recent webinars walk you through the new demands of COBRA, legislative updates, and preparing millennials financially for the future.
They’re all available on-demand, too. Listen while you work to become twice as productive!
Reading/Writing Learning
We all know the student who takes copious amounts of notes or the coworker who’s always reading. While the types of learning obviously overlap, textual learners are drawn to writing, reading, and looking up everything on the internet. (We know this person, too, right?)
This is an easy, traditional way to get information across. It’s effective, it’s quick, and people can absorb the material at their own pace. No one has to feel dumb (get it?) for not keeping up because there’s…
Dummies® eBooks
At ConnectYourCare, we want to tell you everything, in every single detail. We want you to understand every single bit of it. Obviously, that isn’t going to work for a website, which is why we created these eBooks! Peruse the details of HSAs, FSAs, and COBRA on your own time. Put it in your virtual bookshelf and refer to it later. We’re happy to offer it!
HSA for Dummies®
This book outlines who can open an HSA, how and where to open one, and who can contribute and how much. It covers tax benefits of owning an HSA, what items are eligible for HSA spending, how to address non-qualified expenses, and tips to manage funds.
FSA for Dummies®
Get info and advice to make the most of FSA benefits. This guide explains how FSAs can lower taxes, how to estimate yearly FSA contribution amounts, what qualifies as an eligible expense, and provides great decision-making tools.
COBRA for Dummies®
To help administrators avoid common COBRA mistakes, our guide covers key information, including what COBRA is and who qualifies for it, which employers are required to administer COBRA, common events that trigger the activation of COBRA provisions, the basics of administration, legal penalties for noncompliance, and tips to make COBRA administration easier.
Trends Reports, Checklists, Surveys
We also offer eBooks on other subjects, as well as trend reports, checklists, and surveys. You’re not going to get this information anywhere else all in the same place, because it is perfectly tailored to your health care benefit needs. Check out:
That’s just a few of the resources available on our site, which is also full of good textual information. Feel free to take notes!
Longing for a classroom? School is always in session at ConnectYourCare Academy! We host a robust curriculum to help students gain and sharpen their benefits skills. Our award-winning series is an education hub for employees, employers, HR professionals, and benefits brokers. Take this class to get all A’s on your next health care benefits test.
Not everyone is just one kind of learner; instead, people can absorb information in multiple ways with all different learning styles. Whether you like to watch, read, or interact, we invite you to check out all our resources to find the perfect blend for your new year.
About the Author:
Carla Wardin lives in St. Johns, Michigan, where she focuses her writing on the health and technology industries.
