Happy Friday, PLANSPONSOR readers! This week’s newsletter focus is health care and other benefits. A study finds that for small employers, offering health care and other benefits is closely linked to the business’ success. Another study finds many employees would choose a student loan assistance benefit over a retirement plan, but is it feasible for them to participate in both? Also, Morningstar published a study for which it evaluated plans from 10 of the largest health savings account (HSA) providers. All this and more in this edition of PLANSPONSOR Weekend!
The majority of small- to mid-sized businesses (SMBs) do not offer health, retirement or other ancillary benefits, Paychex found in a survey of 318 such companies. Paychex found the more revenues a business earned, the more likely it was to offer retirement and health benefits to employees.Read more >
It is feasible, budget-wise, for participants to participate both in a student loan repayment assistance program and a defined contribution (DC) plan, says Balaji “Raj” Rajan, CEO of IonTuition.Read more >
Morningstar evaluated the plans through two different lenses: one, as an investment vehicle to save for future medical expenses, the other as a spending vehicle to cover current medical costs.Read more >