Speakers at the virtual PLANSPONSOR 2021 HSA Conference touted the benefits of health savings accounts and explained what HSA rules plan sponsors should know.
One notable feature is that account holders can deduct from their own income the amount of HSA contributions made to their account by other people—but not the employer.
Experts weigh in on health savings accounts (HSAs) and the need for health care education in the retirement industry.
Simply put, a lack of insight and advice means Americans are failing to take full advantage of health savings accounts (HSAs).
The firm has teamed up with health care financial services providers Optum Bank and Discovery Benefits.
However, excess deferrals made by participants in 2019 must still be paid to participants by April 15.
Vanguard modifies managed payout fund; Transamerica launches stable value option for 403(b)s; Fidelity announces health savings mutual funds; and more.
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 Fidelity HSA is described as “a full-service, open architecture brokerage account that is fully integrated with Wealthscape,” Fidelity’s adviser technology platform.
The integration will give participants the ability to view and manage their retirement and health savings accounts holistically.
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.
Linking health care and wealth management; maximizing practice efficiency and cross-selling opportunities; addressing individuals' insurance and financial wellness needs—Hub’s new retirement plan specialist advisers hope to do all of this and more.
Increasingly, HSAs are being viewed, accepted, and treated in the industry, as a long-term investment strategy.
The IRS announced small increases to health savings account (HSA) contribution limits for 2020 and a new definition for a high-deductible health plan.
Clients with high-deductible health care plans can use the solution to put aside money on a tax-favored basis for eligible health-related expenses.