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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. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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