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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
Compliance
Effect of the Biden Administration on Health and Retirement Benefits
Health and retirement benefit plan sponsors will likely see efforts to reduce health costs for Americans and a rolling back of current administration efforts, especially on ESG investing.
Compliance
Judge Certifies Sizable Class in Lawsuit Over TIAA’s Retirement Plan Loan Program
The lawsuit alleges TIAA kept some of the interest participants paid on loans from their retirement plans, which it says ‘is the epitome of self-dealing.’
Compliance
Cybersecurity Risks Still Lurking for Retirement Plan Sponsors
A recent federal court decision does not let plan sponsors off the hook, and various state laws may be applied to cases against them.
Benefits
What Happens When Student Loan Payment Deferral Ends?
Employers can steer employees to help when they have to restart student loan debt repayments, and there is hope that more government help is on the horizon.
Compliance
Abbott Brought Back Into Retirement Plan Cybersecurity Lawsuit
Previously dismissed from the lawsuit, Abbott is accused in an amended complaint of failing to monitor its recordkeeper and failing to enforce a security question routine on its benefits website.
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