Products May 31, 2017

Health Equity Solution to Integrate 401(k)s and HSAs

HealthEquity’s new services will aim to combine wealth and health management for participants.
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HealthEquity announced it will be rolling out a new suite of 401(k) services that can be integrated with health-savings accounts (HSA) and other consumer-driven health accounts.

The firm will initially offer two health and wealth solutions. The first includes a full-scope 401(k) that aims to reduce costs, risk and compliance workload for employers. The second connects existing retirement plan solutions from third parties to HealthEquity’s HSA. Both offer new tools for plan advisers to help participants leverage health and retirement accounts.

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“Health and retirement benefits are evolving in the same direction,” says Jon Kessler, HealthEquity president and CEO. “Value increasingly depends on employees making smart decisions based on long-term goals. Tying consumer-driven health and retirement together will help more employees see the full picture, create and execute a highly personalized plan.”

HealthEquity also announced it has entered into an agreement to acquire the assets and retain the team members of BenefitGuard. Based in Orem, Utah, BenefitGuard specializes in streamlined 401(k) solutions.

“By combining our services with HealthEquity, our goal is to provide a solution for employers and advisers that will integrate HSAs into overall financial education, enabling an entirely new approach to an individual’s health and wealth management,” says Matt Bradley, BenefitGuard’s CEO.

Subject to customary conditions to closing, HealthEquity expects the BenefitGuard acquisition to close in the third quarter of its current fiscal year. 

Client Service May 31, 2017

PSNC 2017 Preview: Correcting Common Plan Errors

Learn about the most common plan errors and how plan sponsors can correct them under the IRS Self-Correction Program.
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The 2017 PLANSPONSOR National Conference (PSNC) kicks off June 7 in Washington, D.C.

The event includes two-and-one-half days of peer-to-peer networking and education sessions led by top industry executives, consultants, attorneys and high-performing plan sponsors. This year’s event, focused on “Achieving Excellence in Plan Governance While Maximizing Plan Performance,” will deliver key insights and actionable information about all aspects of running a retirement plan under the Employee Retirement Income Security Act (ERISA).

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One timely panel is titled “Fixing Your Mistakes: Correcting the most common plan errors.” Plan sponsors will learn about the most common plan errors and how each can be corrected under the Internal Revenue Service (IRS) Self-Correction Program. Better yet, they will learn best practices for preventing them. The conversation will feature Tami Guimelli, AVP, ERISA Attorney, Benefits Consulting Group, John Hancock Retirement Plan Services.

Plan sponsors can still register for the premier event for free, and advisers and providers are also encouraged to register. Continuing education credits are available to be earned throughout the conference. Information about the full agenda and registration is available at http://www.plansponsor.com/event/psnc2017/. 

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