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week ending January 24th, 2020 Now that benefits open enrollment is over for most plan sponsors, it is a good time to educate those employees who have selected a high-deductible health plan about the health savings account (HSA) that may coincide with it. Something employees may be struggling with is the competing financial priorities they have and how to allocate their savings dollars. We have sources that offer tips for that. One very important piece to building HSA savings is investing the money put into the account. Plan sponsors should consider how employees use their HSAs when crafting the investment lineup. This edition of PLANSPONSOR Weekend provides information to use in HSA decisions. Editor's Choice Benefits Following Up on HSAs After Open Enrollment Educating employees about health savings accounts can help them maximize their benefit. Benefits Communicating the Difference Between FSAs and HSAs to Participants Employers need to understand the basics of each in order to communicate to participants accurately, and they can use the differences to help employees view HSAs as long-term savings accounts, Sara Caddy, with Dimensional Fund Advisers told webinar attendees. Cover The Savings Hierarchy Participants must take stock of their options, to maximize savings. Benefits Employers May Have to Ask for HSAs That Allow Investing Benefit consultants, benefit brokers and financial advisers are generally not counseling HSA participants to invest their funds, a survey found. Investment Focus HSA Investment Options A valuable way to grow savings for health care expenses. Popular Reads 2020 Best in Class 401(k) Plans PLANSPONSOR is pleased to announce the sixth “class” of companies winning the Best in Class 401(k) Plan designation. Administration Getting SECURE Act’s Lifetime Income Provisions Right Industry sources agree pains must be taken to ensure mandatory lifetime income projections to participants are accurate and contextual education is provided. Compliance IRS Announces 2020 Contribution and Benefit Limits The contribution limit for employees who participate in 401(k), 403(b) and most 457 plans is increased from $19,000 to $19,500. Administration Why Nonprofits May Prefer a 403(b) Plan Over a 401(k) It often comes down to nondiscrimination testing. Administration New Models Continue to Be Introduced for 403(b) Plans K-12 and university 403(b) plan sponsors have turned to multiemployer plan solutions—the latest of which is launching in Indiana. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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