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Case Study: Pfizer’s unique HSA plan design

How Pfizer designed an income tiered HSA plan to deliver value to all colleagues and partnered with HealthEquity to engage and educate colleagues.






Benefit-eligible colleagues

In 2021, Pfizer colleagues had been requesting HSA-qualified health plan options. Pfizer was interested in the option but wanted to ensure that any new plan options would:

  • Ensure broad pre-deductible coverage for allowable medications and services.
  • Benefit colleagues at every income level—not just its highest earners.


Pfizer was seeking an HSA administrator that would provide an excellent client experience. Some of the company’s colleagues were familiar with HSAs, while others would be opening their first account. Pfizer knew that for the program to be successful, it would need a partner that could support colleagues at all stages and throughout the lifetime of the benefit.

We knew [HSAs are] attractive for our more highly paid colleagues looking for a tax savings vehicle. But we also wanted to support our lower paid colleagues, while still providing access to affordable, comprehensive healthcare coverage.

Michele Proscia

Director of the Health and Insurance Benefits team at Pfizer


Pfizer designed an HSA with four income-tiered HSA contribution levels and chose HealthEquity to administer the accounts because of their HSA expertise. Lower income earners get the largest employer HSA contribution when they sign up. All employees benefit from a broad range of allowable preventive services and medications covered before the deductible. After the deductible, colleagues pay predictable copays for most in-network services.

What’s more, the full employer contribution is available on the first day of the plan year. This plan design seeks to help all colleagues—regardless of income—get the resources they need to manage healthcare and support their long-term financial wellbeing. With the HSA design established, Pfizer found a partner in HealthEquity to bring the benefit into reality.

The team felt that HealthEquity education, with its focus on driving proven behaviors leading to success, would be an important component for its colleagues and their diverse experience and financial goals. HealthEquity resources, like webinars, custom flyers, email promotions, and a dedicated education center, were also key to an educational campaign to educate colleagues about the new HSA benefit and prepare them for open enrollment.

We were impressed with the HealthEquity learn site and the different tools and resources that HealthEquity offered. Our plan was more unique, and HealthEquity customized materials for us. That was a differentiator.

Michele Proscia

Director of the Health and Insurance Benefits team at Pfizer

Over one-third of eligible Pfizer colleagues
enrolled in the HSA plan the first year.


The results were astounding. Roughly one in three Pfizer colleagues chose the HSA-qualified health plan option. Proscia believes that, while it is still early, the benefit is attractive to lower paid colleagues, with over 37 percent of its lower paid colleagues electing this coverage. Additionally, 11 percent of colleagues who enrolled in the plan are investing their HSA funds, exceeding the 7 percent industry average reported by Devenir.

“From an enrollment perspective, it was a huge success. Everyone was so helpful in the rollout and in making sure we had clear information from HealthEquity.”

Michele Proscia

Director of the Health and Insurance Benefits team at Pfizer

Although it’s only the first year, the Pfizer benefits team is confident that their plan design and engagement approach will continue to provide an affordable, comprehensive medical option for its colleagues.

Learn more about custom solutions

If you’re interested in customizing a health plan to match your organization’s goals, reach out to our team and lean on our 20 years of experience.

About us

Since our founding in 2002, HealthEquity has remained laser-focused on a singular goal: Empower working Americans to gain more choice and control over their healthcare and financial future. By 2030, we plan to make HSAs more common than 401(k)s.

Today 12 million+ members and 100,000+ organizations trust HealthEquity to help them connect health and wealth.

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