Happy Friday, PLANSPONSOR readers! This week’s focus is on health care and other benefits. As student loan debt is becoming an increasing burden for employees, we reveal ways employers can help them with this struggle, and Fidelity has announced its new student loan repayment benefit. An acquisition announced earlier this year aims to reduce health care benefits costs for employers. A new report from HSA Bank offers tips for employers to encourage employees to use health savings accounts (HSAs) to save for these costs. An alliance between Willis Towers Watson and Stride Health Inc. aims to expand benefits for “gig” workers. Enjoy this edition of PLANSPONSOR Weekend!
Fidelity has launched the Student Debt Employer Contribution program, which enables employers to make after-tax contributions towards their workers’ student loans. Fidelity will pilot the program in the fourth quarter and do a full rollout in 2018.Read more >
There has been progress in terms of individuals saving and investing more HSA funds. However, educating individuals about the benefits of an HSA and how it fits into a holistic retirement strategy is an ongoing process.Read more >
In an effort to combat the insufficient benefits gig workers receive, Willis Towers Watson and Stride Health Inc. have teamed up to provide solutions for contingent workers, including contractors and part-time and seasonal employees.Read more >