Consumers that are already enrolled in HSAs are more fluent, more engaged, and make savvier health and financial decisions than the general public, Alegeus finds.
Mercer projects that health benefit cost per employee will rise by 4.1% on average in 2019, down from 6.5% and 5.3% in previous years.
Those who have HSA assets invested have a $16,007 average total balance, more than eight times larger than a non-investment holder’s average account balance, Devenir finds.
IonTuition finds more than half (52%) of respondents still owe more than $15,000 in student loans, and the year-over-year data shows the number of respondents with more than $30,000 in student loans actually increased over time compared to initial borrowing.
Responses to a large survey of health care consumers suggests that workers now expect their employers to support physical, mental and emotional, and financial wellbeing equally.
Mercer’s Vitals for Change framework calls on employer health plan sponsors to demand more for their employees and their families in four key areas that target systemic problems in the health care system and drive positive disruption and innovation.
A study from Fidelity indicates employee wellbeing programs should address finances, health and other stressors for employees.
In addition to retirement savings services and investing support, DC advisers who provide financial wellness services offer rainy day/emergency funds, budgeting and managing spending, college savings education, and more.
More than half of employers (52%) believe virtual care will play a significant role in how health care is delivered in the future, while 43% believe artificial intelligence will play a major role, according to a survey.
Selecting the "wrong plan" may cause employees to pay more without getting more coverage or benefits in return,” HSA Bank says, and Chad Wilkins, president of HSA Bank, points out it could cost employers as well.
According to one experienced capital markets attorney, the SEC’s move this week to amend Securities Act Rule 701 is an important one and could lead to more private employers issuing equity compensation.
According to an Alegeus study, HSA users are more likely to be well-versed on specific plan details and how to estimate and control the cost of care.
Also being considered is legislation for expanding benefits of HSAs.
In a broad statement marking the first anniversary of the OregonSaves program, State Treasurer Tobias Read suggests the pace of signups is advancing, with an average of more than a thousand people now being registered a week to start contributing.
Overall, approximately one-fifth of organizations have a restriction or other cost-saving measure in place for coverage of spouses and domestic partners, a survey from SHRM finds.
For those learning about HSAs for the first time, one of the keys is to understand there is one set of rules for money going into the accounts, and another set of rules for money moving out.
Dave Chase, co-founder of Health Rosetta, says three questions address three big problems in health care: pricing failure, overtreatment and a crazy amount of administrative burden.
HSAs need to offer equities, multi-asset classes and fixed income, Devenir says.
The Internal Revenue Service (IRS) has increased the affordability percentage for 2019 to 9.86%, up from 9.56% in 2018, the law firm Haynes and Boone announced.
One important purpose of offering more holistic benefits and education that link health and wealth concerns for employees is that it “prevents the 401(k) plan from being treated like a checkbook.”