Greetings loyal PLANADVISER readers. The focus of this weekend’s mailing is health care and retirement—a topic that is clearly on many peoples’ minds. Even before the outbreak of the coronavirus pandemic earlier this year, retirement plan advisers were growing increasingly focused on the links between physical wellness and financial wellness. Collected below is a series of articles and reports on just that. We hope you find our reporting useful and consider sharing some of what you read with a client or colleague. Stay well!
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 way in which companies structure their remotely distributed workforces will depend on the financial consequences of the pandemic, the impact on corporate culture and other factors, such as the prevalence of gig work.
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Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.