HSA News for March 2, 2020
HSA news is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
Obamacare Favorability Hits Highest Level: Poll
A Kaiser Family Foundation poll finds that 55 percent of the public views the Affordable Care Act favorably, the highest level since KFF began polling the question about 10 years ago. Just 37 percent said they view it unfavorably. "Obamacare" was long viewed more unfavorably than favorably, especially during the troubled rollout of the healthcare.gov website in late 2013.
HSA Studies & Analysis
EBRI: 15 Years of HSA Accountholder Behavior
Key findings from the EBRI HSA Database include: (1) the longer an account had been open, the more likely it was to have investments other than cash; and (2) individual contributions are higher the longer an account owner has an account.
Placing Equities in Taxable Accounts vs. Retirement Accounts
Although HSAs aren’t taxable accounts, they are worth addressing because they are arguably more tax efficient than retirement accounts. HSAs are generally more tax advantaged than retirement accounts, so they merit consideration in allocating an individual’s discretionary funds.
The HSA Market
The Biggest Problem With HSAs
HSAs were designed to help give people an incentive for setting money aside for future healthcare needs. As useful as HSAs are, however, there's one shortcoming in the way that they're set up that has limited their effectiveness. The biggest problem with HSAs is that there aren't that many people who are eligible to use them.
3 Drivers of HealthEquity's Long-Term Growth
As one of the largest providers of HSA accounts, HealthEquity is capitalizing on the growth in their popularity. And there are several reasons to believe the company will continue to prosper.
HSAs & Retirement
This Single Move Could Reduce Your Financial Stress in Retirement
Retirement is a scary prospect for seniors, namely because of the many unknown expenses it can bring about. If the idea of covering your senior living expenses, healthcare included, is causing you stress, then the solution could boil down to one important financial product: a health savings account.
Maximizing Your HSA
How Much Should You Put Into an HSA?
Medical coverage with high deductibles should change your consumption of care, even in a world of imperfect price tools. And some of those savings help you preserve your HSA balances for future qualified expenses.
Be a Good Consumer, Preserve Your HSA Balance
Medical coverage with high deductibles should change your consumption of care, even in a world of imperfect price tools. And some of those savings help you preserve your HSA balances for future qualified expenses.
What Is an HSA?
An HSA offers powerful tax benefits that stretch your healthcare dollars further. These triple tax benefit makes HSAs a helpful tool with two roles: You can spend money on current healthcare expenses or invest to cover future ones. You also keep your HSA money until you use it, even if you change employers. This portability differentiates an HSA from a health FSA.
HSAs Dissolve at Owner’s Death? Nope!
An HSA is a trust. That’s an important concept, since trusts are separate from the people who create, manage, and benefit from them. People die, but trusts don’t. With proper planning, your HSA can outlive you by years, providing a continued tax benefit to a spouse or income to another loved one or organization.
Consumer-Driven Health Care
How ‘Cash Pay’ Could Save You Money on Hospital Bills
Shopping around -- and opting out of your health insurance -- can sometimes help you pay less for certain treatments and procedures at hospitals and clinics. A Bay Area data scientist and mother shows us how it works.
Walmart Takes on CVS and Amazon With Low-Price Clinics
Visitors to the Calhoun, Georgia Walmart can get a $30 medical checkup, a $25 teeth cleaning, or talk about their anxieties with a counselor for $1 a minute. Prices are clearly listed on bright digital billboards in a cozy waiting room inside a new Walmart Health center. The move pits Walmart against rivals such as CVS Health Corp. and and creates a new front in Walmart’s battle against Amazon.
Understanding the Impact of Unmet Social Needs on Consumer Health and Healthcare
This paper from McKinsey sheds light on differences in preferences, perceptions, health, and utilization across consumers with varying degrees of unmet social need. By better understanding consumers’ perspectives regarding their own health and social needs, healthcare stakeholders may improve programs that optimize utilization, improve outcomes, and enhance consumer experience.
Market-Driven Health Care Is Worth the Effort
If voters are skeptical, and elected officials unenthusiastic, what’s the point of advocating for a market-driven health system? Isn’t this a hopeless cause? Why not make the best of government-run health care, as other rich countries have been trying to do for decades? The reason is that the market, despite the political difficulties, offers something that the government cannot deliver: productivity improvement.