HSA News for April 22, 2019

News from Washington

Sanders Courts GOP Voters with 'Medicare for All' Plan

Sen. Bernie Sanders (I-VT) is trying to use “Medicare for All” to win over white working-class voters, many of whom supported President Trump in 2016. The 2020 candidate went on Fox News, Trump’s turf, for a town hall, where audience members cheered when asked if they would support Medicare for All.

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HSA Studies & Analysis

9 Takeaways on HSA Growth

HSAs and their assets are on the rise, according to a Devenir study that looks at where the money’s coming from and where it’s going. Insights from the report can be found on these slides.

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HSA Industry News

MassMutual Introduces HSAs Powered by WEX Health

Massachusetts Mutual Life Insurance Co. (MassMutual) is expanding its wealth accumulation and protection benefits at the workplace by making HSAs available on its MapMyFinances financial wellness tool. The HSAs are powered by WEX Health Inc.

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WageWorks Continues Growth of HSAs through Expanded Partnerships

WageWorks, Inc. has announced a new partnership with Benefitfocus that integrates WageWorks' HSA offering, along with the company's full product portfolio, into the BenefitsPlace Platform™ for employers and brokers.

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HSA Industry Best Practices

How Health Literacy Boosts HSA Engagement: 5 Steps to Guide Clients

While employers and the insurance industry widely recognize HSAs as effective financial management tools for employees, a recent study commissioned by Further reveals that only 1 in 3 employees actively use them. Fortunately, there’s a key to narrowing the chasm, and it lies in addressing employee health literacy.

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The HSA Market

The Trump Administration, CDHPs and the Future

Over the last few months, the Trump Administration has provided some indication of its position on health care reform. Consumer directed health plans like HSAs, FSAs and HRAs appear to be an important component in the Trump Administration’s health care reform plans.

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How to Help Customers Save Up for Their Well-Being

Like it or not, medical banking is here and growing where other features of banking are simply stagnant. HSAs are not a fad. They are a critical part of financial planning that banks of all sizes can supercharge for their customers.

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HSAs & Retirement

HSAs Shine Brightly in the Retirement Savings Universe

In the universe of retirement options, there are a lot of bright stars—401(k)s, 403(B)s, IRAs, and Roth 401(k)s and IRAs. And while each of these retirement savings options offers its own distinct advantages, shining brightest among them in the retirement stratosphere is the often-overlooked HSA.            

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HSAs Are Valuable for Retirement Planning

Employers who offer HSAs as a benefit value the plan’s flexibility. Not only do HSAs help employees set aside money for current medical expenses, they also help them save for future ones in retirement.     

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Healthcare: The Barrier to Retirement Employers Are Helping Tear Down

Americans recognize that health costs should be a top priority when planning for retirement. Workers are concerned they won’t be able to afford healthcare in their golden years, but the good news is that employers are actually doing something about it. Employers are increasingly turning to the HSA to help their workforce save for retirement.

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Healthcare’s Impact on Retirement, and What Employers Can Be Doing to Help

With the cost of healthcare rising year after year, figuring out a way for retirees to cover this expenditure is crucial to helping them get off on the right foot financially as they live out their retirement. Luckily, there are a few ways employers can help employees prepare ahead of time.

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Maximizing Your HSA

Why Using Pretax Health Savings Will Keep More Money in Your Pocket

If you have high medical costs, or think you may need high-cost care like surgery or you’re planning to have baby — it pays to put cash aside for those out-of-pocket costs pre-tax. There are two kinds of tax-advantaged savings accounts that let you put money away for health care needs.

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Taking a Second Look at HSAs

When it comes to HSAs, knowledge is power. Employers and employees alike are learning that HSAs are a great way to set money aside to pay for qualified expenses, as well as a great retirement savings opportunity.

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The Spousal Solution

Working seniors who are married to younger spouses have another avenue that they can pursue to reduce their taxable incomes by contributing to an HSA. They can rely on a spouse to meet HSA eligibility guidelines. And then the two of them can contribute to the spouse’s HSA - up to the family contribution limit.

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Consumer-Driven Health Care

Providing Useful Hospital Pricing Information to Patients: Lessons from Voluntary Price Disclosure

HHS is considering another disclosure proposal to make price information more usable to patients. One obvious strategy for regulatory improvement is to examine the behavior of health care providers that voluntarily disclose useful price information. How do these providers make their pricing information salient to price-sensitive patients?

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Telemedicine, Walk-In Clinics Cloud Role of Family Doctor

Convenience rules in health care now, where patients can use technology or growing options like walk-in clinics and urgent care centers to get help whenever they need it. A survey last year found that about a quarter of U.S. adults don’t have a regular doctor. Some wonder how much they still need one.

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Report: U.S. Economic Burden of Chronic Diseases Tops $3.8 Trillion—and Expected to Double

The U.S. economic burden of chronic diseases such as Alzheimer's, diabetes, heart disease, obesity and cancer has reached about $3.8 trillion in direct and indirect costs—or nearly one-fifth of GDP, according to a new report by Fitch Solutions. That figure is expected to double within the next 30 years.

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Bryan CaplanComment