“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.
Tag: health savings accounts
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.
It would also be good for them to include emerging markets equities, target-date funds, alternatives, international bonds and specialty bonds.
Vanguard has issued a new framework, jointly developed with Mercer, that helps pre-retirees and retirees with planning for annual health care costs and long-term care expenses in retirement.
Sources at the 2018 PLANSPONSOR National Conference discussed financial wellness, choosing between Roth and pre-tax savings and saving for long-term health care expenses.
This is a 50% increase from 2017.
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.
For calendar year 2019, the annual limitation on deductions for an individual with self-only coverage under a high-deductible health plan is $3,500.
The $6,900 limitation as the maximum deductible HSA contribution for individuals with family coverage under an HDHP who contribute to an HSA will remain in effect for 2018.
During a media call about the Employee Benefit Research Institute's latest Retirement Confidence Survey, sources shared ways retirement plan sponsors and advisers can help retirement savers feel more confident.
The reduction is a result of the new tax reform.
However, only 8% of respondent to a ConnectYourCare survey are seeking advice about how much to contribute to a tax-advantaged health savings account.
This is up from 62% in 2005, Fidelity Investments says.
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But, employees younger than 25 and older than 65 are more likely to say they try to save/invest their HSA funds, a survey finds.