HSAgateway Creates HSA Platform

It helps users quantify the value of their high deductible health care plan, both in the present and the future, and select investments.

HSAgateway has created a health savings account (HSA) platform to make it easier for both employers and workers to use HSAs. The platform guides an individual through their initial health care saving and spending decisions while helping to craft an investment approach designed to meet their unique needs.

HSAgateway says it designed the platform because many workers do not understand how to use HSAs.

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“HSAgateway recognizes the unparalleled value that retirement advisers and benefits consultants bring to these important financial decisions,” says Jamie Greenleaf, founder and principal at HSAgateway. “We are pleased to partner with these professionals to offer an HSA solution that was built by advisers, for advisers.”

The solution begins with an online tool to help individuals quantify the value of their high deductible health care plan. It helps them see the effects of their health care decisions both in the present and in the future. It then helps them select investments for their HSA, offering users funds from BlackRock, Franklin Templeton, Lord Abbett, MFS Investment Management, State Street Global Advisors and The Capital Group American Funds.

Mercer, Club Vita Provide Pension Plan Longevity Risk Reporting

An aggregate enhanced data set will be used by Mercer's consulting teams to provide more powerful insights to help with client decision making.

Mercer and Club Vita, a firm specializing in longevity analytics, announced that Mercer is the first consulting firm to offer Club Vita’s longevity risk reporting to its clients in the United States, effective immediately.

As part of their five-year agreement, Mercer’s pension plan clients in the United States will have access to Club Vita’s proprietary longevity assumptions, analytics and reporting, which will help them to better assess and manage their plans’ longevity risk. In addition, the aggregate enhanced data set will also be used by Mercer’s consulting teams to provide more powerful insights to help with client decision making.

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Bruce Cadenhead, chief actuary, Mercer, says, “Longevity has become a crucial focus for plan sponsors as people are living longer, particularly in the current low interest rate environment. By working with plan sponsors to collect more insightful data, we can tailor each plan’s assumptions to their participants, increasing transparency and, in turn, improving the value in pension risk transfer deals. Access to this data will help to justify lower pension liabilities in some cases.”  

Dan Reddy, U.S. CEO, Club Vita, says, “We aggregate longevity data to aid anyone who wants to be better informed about the true cost of their pension plan. By combining Mercer’s data with ours, and adding in our analytical strengths, we will empower pension plan decision makers to decide the best strategies to manage the costs associated with their plans.

Reddy adds, “In a recent pilot program, we tested data aggregated from over 100 U.S. pension plans. We found increases and decreases in pension plan liabilities of up to 6% relative to the standard Society of Actuaries tables, with a reduction in liabilities on average.”

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