Happy Friday, readers! The convergence of health and wealth remains an important employee benefit trend in 2020, and plan sponsors are seeking advisers with expertise on such topics as health savings accounts, the savings hierarchy and long-term care. Collected below is a series of articles on these timely topics. We hope you will share some of what you read with a client or colleague.
The account types differ quite a lot. Some require same-year spending, most are owned by the employer, and one comes with a triple tax advantage.
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Employers are accustomed to having five generations in the workforce, but they now need to focus on the new expectations Gen Z brings to the workplace, Fidelity says.
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One overlooked benefit of HSAs is that people can actually spend money on qualified health care expenses out of pocket and then reimburse themselves tax-free via the HSA once they enter retirement.
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The Center for Retirement Research says the reduction for claiming early is currently too large while the increase for claiming late is about right.
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Educating people about the plans is important, as a recent Edward Jones survey found that only 29% of Americans know what the purpose of these plans are.
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The suit alleges that John Hancock Life Insurance Co. violated ERISA by retaining foreign tax credits generated by plans’ investments under a group variable annuity contract.
