PLANSPONSOR Weekend Newsdash
Week ending February 8th, 2019
The retirement industry has been touting health savings accounts (HSAs) as a vehicle for saving for retirement health care costs, but a recent survey indicates HSA-holders are spending the vast majority of their account assets on current medical expenses. This calls into question whether it is feasible to expect employees to save in their HSAs for the long term. Or perhaps it’s just a matter of developing a new strategy to help employees tie HSAs to long-term savings. Either way, new HSA product offerings are coming out, some with a focus on investing account assets. With broader health care benefits, employees are reporting confusion and lack of resources from plan sponsors about their plans, which could lead to higher long-term health care costs. And, according to employees polled, not only health insurance, but critical illness insurance, cancer insurance and long-term care insurance can contribute to their financial security. This edition of PLANSPONSOR Weekend focuses on HSAs and health care benefits.
Editor's choice
Study Shows Where HSA-Users Spend Their Savings
According to a study from Lively, the average health savings account (HSA)-holder spent 93% of his account savings on household health care costs last year. This leaves little to save for the long-term.Read more >
Voya Launches Health Savings and Spending Account Solutions
Voya health savings account (HSA) account holders with $2,000 or more in their HSA may choose to actively manage their account and select their investment options within their HSA.Read more >
Franklin Templeton and Principal Each Make HSAs a Priority
Franklin Templeton is rolling out R6 shares for health savings accounts, while Principal has announced its first collaboration with an HSA provider.Read more >
Lack of Education Could Result in Greater Long-Term Health Costs
Only 33% of employees surveyed by Maestro Health say they completely understand the health coverage offered through their employers, and 62% indicated they feel their employer does not serve as a resource for their health care-related questions.Read more >
Employees Report a Wide Range of Benefits Contribute to Financial Security
Research findings suggest that employers could do a better job of educating employees about benefits that may improve their overall financial security.Read more >
2021 Target-Date Fund Survey
The DOL Has Begun Retirement Plan Cybersecurity Audits

Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.

Rush of Litigation Against Retirement Plans Expected to Continue
One insurer says the more than $1 billion in settlements thus far could make fiduciary insurance a thing of the past.
2020 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

Editorial: Alison Cooke Mintzer


Subscribe to NewsDash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund