A 65-year-old couple retiring in 2019 can expect to spend $285,000 on health-care and medical expenses throughout retirement, according to Fidelity’s annual Retiree Health Care Cost Estimate.
It should be no surprise, therefore, that among all ages of adults, 51% say their top retirement concern is paying for health care, Franklin Templeton research has found. However, that same research notes, those who have a health savings account (HSA) are more certain about how they will cover future health care costs. With their triple-tax-advantaged status and flexibility as both a short-term and long-term savings vehicle, HSAs are becoming part of not only the health benefits conversation, but retirement income.
That’s why PLANSPONSOR last year launched the PLANSPONSOR HSA Conference, which will be held this year in Chicago, October 3. The event is designed to educate plan sponsors that currently offer, or are considering offering, these accounts. It’s also a great opportunity for advisers who want to get up to speed on this fast-growing benefit option.
The conference agenda will cover multiple aspects of the accounts, to help employers and advisers best oversee and support them. Topics to be discussed include: current and proposed laws and regulations for HSAs; how HSAs operate; best practices in HSA provider selection and ongoing administration; and how investing HSA assets can increase the potential for long-term savings.
Plan sponsors and advisers, register now to attend the second annual PLANSPONSOR HSA Conference!