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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 Participants What Participants Want From Employers’ Retirement Plan Websites A recent study found 81% of participants have logged into their accounts, with most signing in to check account balances or review investment options. Inside Angle DOL’s Next Moves What’s in store for the rest of the year? Research 2021 Recordkeeping Survey Ask the Experts Allowing for After-Tax Contributions in a 401(a) Plan Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations. Data and Research Employers Are Prioritizing Financial Wellness Studies show employers are offering access to financial products and tools, as well as financial advisers, and many plan to offer student loan debt repayment assistance.  Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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