Survey findings released today by HealthSavings Administrators (HealthSavings), a top health savings account (HSA) provider, highlight a deep divide between employers and benefits professionals when it comes to understanding the importance of health savings accounts in retirement planning.
Read MoreIf you asked American seniors to tick off the things most important to them, the preservation of their independence and a secure retirement would be right up there with continued good health and occasional visits from their children and grandchildren. Unfortunately for them, the economics of healthcare make that a challenge too many of them are unprepared to meet.
Read MoreYou’re a month away from your milestone 65th birthday, and life is good. You remain at work and plan to do so for several more years, whether because you love what you do or you fear your retirement savings won’t cover the lifestyle that you want to live.
Read MoreLet’s create a scenario: Your family of four has just won a seven-day vacation to a popular theme park. The prize was advertised as paying for your air transportation, housing, and two meals a day, as well as a $1,500 cash for admission tickets, daily lunch, and souvenirs.
Read MoreHSA investors have long been a key element of the HSA industry. According to Devenir Research, the average HSA investor held roughly $10,948 in investments at the end of 2018. In addition, these investors held $3,580 in cash, more than double the funded deposit balance of non-investors.
Read MoreLately, my inbox has been full of information from various HSA providers about which items are included as qualified medical expenses that can be covered using funds from your HSA.
Read MoreDespite what you might think or read on Twitter, bipartisanship is alive in Washington. Two important things happened this week (and it’s only Wednesday!).
Read MoreThe amount of money individuals may need to cover their health care expenses once they retire may be eye-opening for many of them. EBRI recently found that couples with long life expectancy and high prescription drug expenses could need as much as $363,000 to cover premiums and out-of-pocket expenses.
Read MoreDr. Bill West, SVP of Business Development for HealthEquity and a member of the Board of Directors of the HSA Council, visited with J. Kevin A. McKechnie l to discuss the role of HSAs in health care reform and in retirement in Studio 1120.
Read MorePrescription drug costs are under a microscope in Washington. Even in our polarized politics, decisionmakers agree on the need for reform.
Read MoreFrom Rep. Bera’s (D-CA) statement before the Ways and Means Committee yesterday: “I have long been a proponent of HSAs to help families save for future medical expenses just as they do for retirement or college.
Read MoreThis revenue procedure provides the 2020 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code.
Read MoreHealth savings accounts received record-breaking contributions in 2018 with accountholders and employers pouring $33.7 billion into HSAs, up 22% from 2017.
Read MoreThe letter below that was sent to the Senate Chairman of the Budget Committee describes the almost incomprehensibly incompetent errors the Congressional Budget Office (CBO) made in scoring Republican health care reform plans and describes a laundry list of desperately needed reforms at CBO.
Read MoreThe House Rules Committee held what many are calling an “historic hearing” on the Medicare for All bill introduced by Rep. Pramila Jayapal, H.R.1384. I was invited to testify and these are some of the key points I will make…
Read MoreMuch has been written about high deductible health insurance plans in recent times. It’s hard to believe that just a little over 15 years ago hardly anyone had heard of a high deductible health plan.
Read MoreThe idea of injecting a stronger value equation into the U.S. health care system is at the core of many discussions policymakers are having about how to fix the system and decrease costs.
Read MoreEnrollment in HSA-eligible health plans has grown significantly since HSAs first became available in 2004. In 2018, enrollment in HSA-eligible health plans ranged from 23 million to 36.8 million policyholders and their dependents.
Read MoreFor the ~75 million millennials in America, health insurance doesn’t mean what it means to their parents. In truth, health insurance today is much different than it was 50 years ago, even 20 years ago. Deductibles are higher, premiums are higher and medical care is more expensive.
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