Higher health savings account (HSA) contribution limits can have a number of positive implications for both employers and employees. Healthcare costs, along with the cost of nearly everything else, have continued to rise, so these new limits should be a welcome relief to individuals and families. For Employees Employees are wise to contribute as much […]
Employees are eager for solutions that will help them save money and manage their healthcare expenses. Simply consider the fact that more than 35.5 million Americans are enrolled in health savings accounts (HSAs) to manage healthcare expenses in 2022—a 9% increase since 2021. Unfortunately, there are even more people who are enrolled in HSA-qualified health […]
A health savings account (HSA) is a flexible financial tool that serves you throughout every stage of your life. This account allows you to take control of your finances in an individually tailored way to your financial situation. The HSA market is rapidly evolving and growing with each passing year. According to the 2022 Midyear […]
Today, more employers than ever offer their employees a consumer-driven health plan with a health savings account (HSA) as part of their benefits package. And to help build employee adoption and engagement, HR managers are constantly challenged to come up with educational tactics.
Let’s face it: We’re all on information overload. The amount of content we are consuming on a minute-by-minute basis in the blurred lines between our personal and professional lives has exploded in this digital economy.
Most of us have heard of the “parking lot” in business—the place where ideas not pertinent to a discussion get moved. With the perceived complexity of the health and wealth landscape, as well as the challenges facing employees for the long haul, it’s no surprise that many consumers are moving their health and wealth to […]
Health Savings Accounts (HSAs) can be used to save for both current and future health expenses, demonstrating their value as a tool for physical and financial health today and in retirement. In addition to the triple tax advantage and investment capability that was discussed in yesterday’s article, here are reasons three and four to consider […]
Despite the recent increase in discussion around the need to save wisely for retirement, many Americans underestimate the healthcare costs they will face when they retire. In a study conducted by HSA Bank, 67% of consumers believe they will need less than $100,000 for healthcare expenses in retirement, and 82% believe they will need less […]
It’s no surprise that research has found employees tend to delay or disengage from decisions they view as difficult and complex. In the 1980s, the struggle among employees was 401(k) adoption, even though it was the most practical retirement financial tool in the market. These days, the challenge is centered on consumer directed health plans […]
Responding to concerns about administrative headaches for plan sponsors and administrators, the Internal Revenue Service (IRS) reversed its previous decision to lower the maximum family health savings account (HSA) contribution from $6,900 to $6,850.