Presented by Wittrock Financial Group
📍 Visit Us Online
📞 361-271-1211 | ✉️ service@admin316.com
Why 401h Plans Matter for Employers and Employees
401h plans are a powerful but often underutilized tool in the employee benefits toolkit. They provide tax-advantaged savings to fund post-retirement healthcare, yet many employees remain unaware or unengaged. At Wittrock Financial Group, we work closely with employers to increase employee participation in 401h plans, creating long-term value for both the workforce and the organization.
What’s Holding Employees Back?
Understanding the hurdles to participation is the first step toward effective engagement:
- ❌ Low Awareness: Many employees confuse 401h with 401(k) or don’t know it exists.
- 📆 Short-Term Thinking: Present-day expenses often take priority over future healthcare needs.
- 🧾 Complexity & Confusion: IRS rules make 401h plans seem difficult to understand.
- 💤 Procrastination: Without urgency, enrollment is delayed.
- 🏦 Other Financial Goals: Debt, housing, and education costs compete with retirement savings.
The Wittrock 5-Step Framework to Drive Participation
- Clarify & Simplify: Eliminate jargon. Make benefits easy to understand with simple visuals and comparisons.
- Personalize the Benefit: Connect healthcare savings with individual goals.
- Automate Participation: Remove barriers with streamlined digital enrollment.
- Communicate Consistently: Use a multi-channel approach for maximum reach.
- Create an Engagement Culture: When leadership is involved, employees follow.
📊 Engagement Strategy Table
| Tactic Category | Strategy in Action | Expected Result |
|---|---|---|
| Communication | Infographics, explainer videos, and benefit comparison sheets | Increased employee understanding and perceived value |
| Enrollment Simplification | Auto-enrollment defaults, paperless onboarding | Reduced hesitation, faster sign-ups |
| Financial Wellness Tools | Calculators, retirement healthcare cost estimators, webinars | Employees connect savings with real-life future needs |
| Incentives & Recognition | Matching contributions, rewards for sign-up or education participation | Builds motivation and momentum |
| Technology Tools | Online portals, alerts, personalized dashboards | Ongoing engagement and contribution growth |
Tactical Engagement Methods That Work
🔍 Simplify the Message
Use language employees understand. Avoid legal jargon and use visuals to communicate complex concepts quickly.
Example Message:
“Think of your 401h as a healthcare piggy bank for retirement—funded now to protect your future.”
📽 Show, Don’t Just Tell
Create short videos (under 2 minutes) showing how a 401h plan works and how it fits with existing 401(k) benefits.
💼 Integrate with Financial Planning
Make it easy for employees to see how healthcare costs could impact their retirement lifestyle—and how 401h helps bridge that gap.
Seamless Enrollment is Key
Many employees don’t engage simply because the enrollment process feels like a hassle. We recommend:
- ✅ Auto-Enrollment at Modest Levels (where allowed)
- 💻 User-Friendly Digital Portals
- 👥 HR Support During Onboarding
Financial Education: The Game Changer
When employees understand the long-term value, they engage more deeply. That’s why we help employers offer:
- 🧠 Live Webinars: “What Healthcare Will Cost in Retirement” or “The Hidden Power of 401h Plans”
- 🔢 Custom Healthcare Cost Projections
- 👨💼 Access to Financial Advisors
Motivation Through Strategic Incentives
Behavioral nudges and small rewards can make a big difference:
- 💲 Matching Contributions
- 🏃 Link 401h to Wellness Programs
- 🎁 Raffles & Rewards for completing education or enrolling
Leveraging Technology for Long-Term Impact
Ongoing digital engagement ensures sustained participation:
- 📊 Retirement Calculators: Help users see future healthcare cost offsets
- 🛠 User Portals: Track balances and receive guidance
- 🔔 Reminders: For open enrollment and contribution opportunities
Why Employers Should Care
Increased participation in 401h plans delivers measurable benefits:
- 🧲 Attract Top Talent: Offering this benefit is a major differentiator
- 📉 Manage Post-Retirement Costs: Healthier retirees can lead to lower legacy costs
- 🌍 ESG Alignment: Show commitment to long-term employee welfare
- 🤝 Stronger Engagement: Reduce stress and boost workplace productivity
How Wittrock Financial Group and Admin316 Deliver Results
At Wittrock Financial, we’ve partnered with Admin316 to provide holistic 401h administration backed by real employee engagement results.
Our Services Include:
- ✅ Strategic Plan Structuring
- 🧰 Custom Communication Platforms
- 💼 Seamless Enrollment Solutions
- ⚖️ Regulatory and Compliance Oversight
- 📈 Real-Time Participation Reporting
Let’s Elevate Your 401h Strategy
Boosting employee participation in 401h plans isn’t just a “nice-to-have”—it’s essential for long-term financial health and talent retention. At Wittrock Financial Group, we help you turn this benefit into a powerful asset.
📍 Visit us at: wittrockfinancial401kadministration.com
📞 Call: 361-271-1211
✉️ Email: service@admin316.com
