Willis Towers Watson suggests portals integrated with financial planning tools can help employees make strategic decisions about where to best save their money based on their unique financial situation.
Speaking at PLANSPONSOR's 2018 HSA Conference, Shad Fagerland, of counsel at Ivins, Phillips & Barker, discussed two bills, passed by the House, that would expand the use and benefits of health savings accounts (HSAs).
The report can serve as a primer for those needing more education about HSA rules and benefits.
Devenir estimates that $9.8 billion of HSA assets are invested as of June 30, 2018—an estimated 45% year-over-year increase.
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common attributes of an HSA in a simple quiz.
Research from EBRI shows very few employees contribute the maximum statutory limit to HSAs.
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.
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.
This is up from 62% in 2005, Fidelity Investments says.
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.