Tag: health savings accounts

However, excess deferrals made by participants in 2019 must still be paid to participants by April 15.

Chad Wilkins, president of HSA Bank, says the new relationship will provide a useful tool for customers, uniting health and wealth planning.

The TIAA HSA will be administered by HealthEquity Inc. and will work in concert with TIAA retirement plans.

The integration will give participants the ability to view and manage their retirement and health savings accounts holistically.

The IRS announced small increases to health savings account (HSA) contribution limits for 2020 and a new definition for a high-deductible health plan.

The aim is to make the tax-advantaged savings vehicle more accessible and easier to use

Named Fidelity Works, the package will also be available to third parties working with these employers, including advisers, employee benefits brokers, banks and certified public accountants (CPAs). 

While Fidelity’s estimate is for a couple retiring in 2019, the firm says it’s also a call-to-action to younger generations.

Just over half think health care will be the biggest expense in retirement, a Nationwide Retirement Institute survey found.

It is expanding its retirement plan advice and consulting platform to HSAs and other non-ERISA employer-sponsored plans.

Notably, more than 60% of employers want to keep retirees in their plan, and they are looking to change their targeted communications to inspire action, Alight Solutions found.

For the Voya health savings account (HSA), Voya Investment Management is providing manager selection and oversight and has constructed the HSA investment menu that includes a mix of funds managed by Voya Investment Management as well as other well-regarded managers.

A look at some of the products and services retirement plan sponsors are requesting outside of 401(k) plans.

This year, the Practice Development column in PLANADVISER print explored various ways retirement plan advisers can expand their practices beyond 401(k)s, with the goals of adding new revenue streams, better serving participants and solidifying client relationships.

The frequency of withdrawals prevents HSA account holders from building a meaningful balance to use for health care expenses in retirement, and individuals are unlikely to allocate their assets to investment products if their primary goal is to fund short-term medical expenses, Cerulli says.

It offers an open architecture HSA investment lineup.

The tool groups consumers into microsegments based on characteristics and behaviors, allowing employers to then create targeted communications for HSAs.