Workers younger than 35 are realizing they need to start saving now, according to Ascensus; however, only 30% are on track to meet their retirement savings goals.
Tag: health savings account
Preparing participants financially to be able to retire beat out reducing plan costs as plan sponsors' top concern in this year's Fidelity Investments Plan Sponsor Attitudes Study.
For those learning about HSAs for the first time, one of the keys is to understand there is one set of rules for money going into the accounts, and another set of rules for money moving out.
Many people are unaware of their triple tax advantages, that balances can be carried forward and that the money can be invested.
The most challenging part respondents to a WEX Health survey cited in using their HSA was making sure to have enough funds set aside to cover deductibles (29%) and figuring out how much money to put in the account overall (21%).
Employers are introducing more convenient and high-quality health care options.
Fifty-one percent are not actively contributing to a 401(k) plan, Edward Jones found in a survey.
Of all factors, salary was found more likely to encourage savings both an HSA and 401(k).
The majority of Gen Xers surveyed by T. Rowe Price reported they receive advice through their employer.
The firm's analysis found participants who also had HSA savings were more retirement ready than those who did not.