Nearly 45% of respondents to a ConnectYourCare survey chose to enroll in a health savings account (HSA) as a savings vehicle for future health care needs, up from 40.5% in 2017.
Tag: Health Savings Accounts
An analysis also finds Millennials were especially eager to adopt health savings accounts (HSAs), nearly doubling their HSA participation from 2017.
WEX Health and dailyVest form collaboration for HSA consumers, and FIA promotes consultants and analysts within the firm.
Even among employees who invest their HSA assets, only 17.7% indicate they will save and grow their assets for future health care needs in retirement.
The portal for eligible products and services will help employees make smarter purchase decisions and understand what can be paid for with health savings account and health care flexible spending account savings, the company says.
A Fidelity analysis also found more than one-quarter of 401(k) participants increased their contribution rates since last year.
A study shows consumers might not understand health savings accounts as well as they believe.
Respondents to a survey from Mercer reported preferences for policies to mitigate costs.
The latest study from the Segal Group includes plan sponsors’ picks for the top five cost-management strategies.
Of the HSAs with distributions, the average amount distributed was less than the average contribution, resulting in balance increases, EBRI finds.
Employers are looking at various cost-controlling strategies such as partnering with Centers of Excellence and offering telemedicine services.
Health savings accounts are seen as a valuable tool for covering health care costs in retirement.
In a series of articles, PLANSPONSOR is profiling industry groups that work for retirement and health plan sponsors to protect them from onerous burdens and help them with plan design and administration. In this article we profile the Plan Sponsor Council of America (PSCA).