Towers Watson: Behavioral Economics – Seven Ways to Engage Employees in Health Care

This issue brief from Towers Watson describes how employers might use behavioral economics to understand and motivate employees in decisionmaking about their health care benefits and utilization.  Towers Watson is a global professional services company that regularly partners with the National Business Group on Health on analyzing trends impacting U.S. employers on issues of health care benefits.   The seven insights from behavioral economics theory that might be applied are:

1. We hate to lose more than we love to gain
2. We like certainty more than uncertainty
3. We interpret economic gains or losses based on context
4. We like what’s already ours
5. People are overly optimistic
6. We abhor unfairness
7. We remember powerful stories

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