Happy Friday, readers. Below you will find a helpful series of articles and research reports seeking to link the challenges and opportunities of health care and retirement planning. In particular, we present ample evidence that health savings accounts are ripe for growth—and they represent an important opportunity for advisers and their clients to be better prepared for the long-term future. We hope you will share some of what you learn with a colleague.
The health care cost inflation projections contained in HealthView Services’ latest reporting are simply astounding; accounting for projected lifetime inflation, a healthy retired couple at 65 can expect $600,000 in health-related expenses alone.
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New research from Fidelity warns that plan sponsors’ increasing focus on health care is cutting back the amount of money and time they have to devote to retirement benefits; satisfaction with advisers is also up.
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It appears some last-minute amendments have largely removed controversial provisions from the Senate’s version of tax reform legislation that would have had a big impact on governmental 457 and nonprofit 403(b) plan sponsors.
The American Retirement Association says that tax reform could be a disincentive for small businesses to offer retirement plans; however, as one reader shares, there are counter considerations having to do with Roth 401(k) options that could mitigate some of the concern.
The legislation would take steps to provide additional anti-cutback protections for Teamsters, miners, and other unionized American workers who have paid significant sums into multiemployer pension funds.