For an individual with self-only coverage, nothing has changed since the IRS announced limits in 2017.
The Summit platform allows TPAs to be more efficient by keeping all administration together in one system.
Of all factors, salary was found more likely to encourage savings both an HSA and 401(k).
An analysis also finds Millennials were especially eager to adopt health savings accounts (HSAs), nearly doubling their HSA participation from 2017.
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.
UnitedHealthcare’s Hospital Indemnity Protection plans offer compatibility for people enrolled in consumer-directed health plans with health savings accounts.
The combined services of the firms are being rolled out in response to employers asking for a comprehensive investment strategy that ties health and retirement benefits together.
Respondents to a survey from Mercer reported preferences for policies to mitigate costs.
Lively’s integration with TD Ameritrade offers account holders access to an open-architecture set of investment options.
Of the HSAs with distributions, the average amount distributed was less than the average contribution, resulting in balance increases, EBRI finds.