Ubiquity Retirement + Savings announced a partnership with HealthEquity, Inc., a national provider of health savings accounts (HSA) as a non-bank custodian, meant to encourage individuals to save toward their future while also saving for health care expenses.
According to the firms, the integration of Ubiquity Retirement + Savings and HealthEquity services will encourage employers and their employees to invest in both HSAs and 401(k)s. The end goal is to help participants maximize tax benefits, contribution rates, investment returns and overall savings.
“While 401(k)s and HSAs have benefited sophisticated savers separately over the last several years, the market has failed, to this point, to produce a viable combination of the two accounts that can be easily accessed and managed by small businesses,” says Chad Parks, CEO of Ubiquity. “Ubiquity and HealthEquity will offer optimal contribution and investment strategies to employers while employees will be able to see their 401(k) and HSA balances from either platform.”
Jon Kessler, president and CEO of HealthEquity, says the combined services of the firms are being rolled out in response to employers asking for a comprehensive investment strategy that ties health and retirement benefits together. “Empowering employees to make decisions about consumer-driven health care and retirement together will create a long-term plan for retirement savings,” he adds.
More information is available at www.myubiquity.com.