The latest health plan news is that regulators have finalized a new rule for health reimbursement arrangements, designed to help more businesses offer insurance to employees and reduce costs for employers. To save on costs, many plan sponsors choose to self-fund their health insurance plans, but as the amount of claims continue to increase, they may need to revisit their risk strategies. Health savings accounts (HSAs) can be used to save for health care expenses in retirement, but a survey finds education is needed for rank-and-file employees as well as the top brass—and financial advisers. Cybersecurity is of growing importance to retirement plan sponsors, but employers that also offer HSAs should put that on their radar as well. Enjoy this edition of PLANSPONSOR Weekend, focused on health care benefits.
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.Read more >
Utilizing health savings accounts (HSAs) to save for health care expenses in retirement is a balancing act, as inevitably there will be a time to spend, and participants need education about how to maximize HSA benefits.Read more >
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.Read more >