Advisers and providers in the defined contribution plan arena want to take a bite out of banks’ dominance in the health savings account marketplace, and they are building solutions to make it happen.
Tag: HSA investing
Vanguard reveals fund merge; Northern Trust creates reporting tool for hedge fund trades; and Lively removes HSA investment fees.
The tool groups consumers into microsegments based on characteristics and behaviors, allowing employers to then create targeted communications for HSAs.
Investment menu designs have also gotten better, according to a Morningstar analysis.
Most HSAs do not even have an investment component, but this will change, as health care brokers have been driving plan sponsor adoption of HSAs, but in the future advisers will, Jamie Greenleaf, with Cafaro Greenleaf, told attendees of PLANSPONSOR’s 2018 HSA Conference.
Devenir estimates that $9.8 billion of HSA assets are invested as of June 30, 2018—an estimated 45% year-over-year increase.
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.