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Investment Products and Services Launches

HealthSavings Administrators launches HSA with Franklin Templeton funds; Natixis ESG TDF on the horizon; Wilshire Associates rolls out equity hedge fund index; and more.

By Javier Simon editors@plansponsor.com | February 23, 2017
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HealthSavings Administrators Launches HSA With Franklin Templeton Funds
 
The new health savings account(HSA) 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 itsfirst-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 program.”

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.

“Helping 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.

HealthSavings 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.

NEXT: Natixis ESG TDF on the Horizon

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