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week ending December 13th, 2019
Employers and employees alike were increasingly interested with health savings accounts (HSAs) and health benefits in 2019. From entry-level employers to top leadership executives, employee education on health benefits remained a top concern for plan sponsors. Small employers who have trouble paying their plan's health costs can implement strategies to hold down expenses, said Mercer. For HSA holders hoping to invest, Morningstar released a report suggesting employers evaluate HSA providers and investment menus. Additionally, a report explains why following up with employees after the open enrollment period could maximize their benefit, and a study warns against the risk of HSA cyber hacks. Have a great weekend!
Editor's Choice
Benefits
Entry-Level Employees to Top Executives Need HSA Education
Employee education about health savings accounts (HSAs) remains the dominant concern of plan sponsors, and plan sponsors struggle to tell employees how to allocate their savings dollars, according to a survey from PSCA.
Benefits
Strategies for Small Employers to Hold Down Health Benefit Costs
Small Employers can ask for incentives and pricing models from insurers, focus on primary care, and band together to reduced health benefit costs.
Benefits
HSA Holders Looking to Invest, But What Will They Find?
Although investment menu designs are better, there are still improvements that can be made and items plan sponsors should evaluate when selecting an HSA provider.
Benefits
Following Up on HSAs After Open Enrollment
Educating employees about health savings accounts can help them maximize their benefit.
Benefits
HSA Cybersecurity: A Threat That is Growing
Health savings account (HSA) holders are encouraged to save the money in their accounts for long-term health care expenses, but the less they use their accounts, the greater the risk for fraud and identity theft.
Popular Reads
2021 Health Savings Account Survey
Data and Research
Health Care Costs in Retirement Remain a Top Stressor
Fidelity’s latest analysis shows people often underestimate the potential cost of health care in retirement, even after two decades of watching health care costs increase year-over-year.
2020 Recordkeeping Survey
Compliance
SECURE Act 2.0 Passed Unanimously by Ways and Means Committee
A rare unanimous affirmative voice vote by the Ways and Means Committee allows the SECURE Act 2.0 to be considered by the full House of Representatives.
Compliance
403(b) Plan Sponsor Sued Over Excessive Fees and Underperforming Investments
The lawsuit calls out the use of the active suite of the Fidelity Freedom target-date funds, among other things.
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