PLANADVISER Weekend Newsdash
Week ending July 27th, 2018

Happy Friday, readers! This weekend’s newsletter notes the passage in the House of Representatives of two bills that would, according to sponsors, reduce employer costs for health benefits coverage and expand the use of health savings accounts. One expert tells PLANADVISER budget pressures have put limits on some reforms and the Senate outlook this year is “dim,” but the proposed changes do indicate the direction that many Republicans and more than a few Democrats would like to take. Below, you will find comprehensive coverage of the House legislation, as well as helpful contextualizing stories and research on the topic of health care costs and HSAs.

Health Savings Accounts
Will the More Evenly Divided Senate Tackle HSAs This Year?
“Although budget pressures have put limits on some reforms and the Senate outlook this year is dim, the proposed changes indicate the direction that many Republicans and more than a few Democrats would like to take,” writes Tracy Watts, Mercer’s leader on health care reform.    Read more >
Helping Employers Sort HSA Facts from Fictions
The health care plan and the health savings account are not the same thing; while the employer has some administrative responsibilities, the HSA belongs wholly to the employee and is portable. Read more >
HSA Opportunities Abound
Assets topped an estimated $45 billion at the close of last year. Read more >
HSA Myths and Misconceptions
An interview with Steve Christenson, EVP at Ascensus. Read more >
SEC Lays Out Valuable Features of HSAs
Although an SEC bulletin is directed at employees invested in HSAs, its description of useful HSA features depending on how investors use HSAs can be informative to plan sponsor clients. Read more >
Concerns About Retirement Health Care Costs Increasing Interest in HSAs
However, only 8% of respondent to a ConnectYourCare survey are seeking advice about how much to contribute to a tax-advantaged health savings account. Read more >
MOST POPULAR STORIES
Another Stressed Union Pension to Get PBGC Support

The plan was projected to run out of money at some point this year, but the special financial assistance from PBGC should prevent this outcome.

PPL Corp. and Mass Brigham General Face ERISA Lawsuits

Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.

Retirement Plan Advisers Might Help Lessen ERISA Lawsuits by Adding Defensive Provisions
Advisers can assist plan sponsors with mitigating and preventing claims for benefits and other Employee Retirement Income Security Act claims.
70% of Eligible Employees Have Joined California’s State-Run Retirement Program

Early evidence suggests the mandate for employers that don’t offer a retirement plan to join CalSavers is driving adoption of new plans.

District Court Advances TriNet ERISA Lawsuit

The denial of the defense’s dismissal motion opens the door for either trial or settlement in an ERISA lawsuit that includes a set of fiduciary breach claims that are similar to those filed against many U.S. employers and plan sponsors. 

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