HealthSavings Administrators Launches HSA With Franklin Templeton Funds
The new health savings account
product by HealthSavings
Administrators will exclusively provide investors with access to 17 Franklin
Templeton Investments spanning asset classes and strategies. HealthSavings
says that upon opening an account, participants will be able to invest in one
or more of these funds via its
first-dollar investment program, which enables
accountholders to save for both current and future health care expenses without
large minimum balance requirements.
“In order to make the best decisions toward adequately and
efficiently saving for retirement health care expenses, investors need to
understand all available tools and options—and that includes HSAs,” says Kirk
Hoewisch, president of HealthSavings.
“Franklin Templeton’s expertise in offering investment strategies to help
investors save for retirement perfectly complements our retirement-focused HSA
Kevin Murphy, vice
president, senior retirement plan strategist believes the health savings
arena is in the early stages of undergoing a shift similar to the one in the retirement space with the growing popularity of defined contribution (DC) plans.
individuals achieve an optimal retirement outcome is at the core of our firm,” says
Murphy. “The HealthSavings HSA
featuring our funds is a great tool for individuals to leverage in working with
their financial adviser to prepare for their medical expenses in retirement."
HSAs are designed
as long-term investments vehicles in which money is reserved for eligible health care
expenses. It offers a “triple-tax” advantage of having money deposited tax free
or tax deductible, and remains tax free when used to pay or reimburse
for eligible medical expenses.
works with FPS Trust Company as its custodian, and provides investment-focused
service through its cloud-based platform, the Investment Provider Xchange. To
learn more, visit HealthSavings.com.
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