The company announced last week that over 400 financial professionals have completed training to obtain their CHSA.
With registration primarily driven by Franklin Templeton Investments, they’re part of an inaugural class of firms and individuals “who wish to assist employers and employees in understanding and utilizing the Health Savings Account’s long-term retirement planning characteristics.”
“As health insurance premiums continue to increase and inflation of medical expenses are nearly double core inflation, High Deductible Health Plans (HDHPs) coupled with Health Savings Accounts (HSAs) are emerging as a primary offering for many U.S. companies,” Access Point HAS notes.
As many advisors know, HSAs offer employees a tax efficient way to cover both current medical expenses and save for their future, making them an option for people to consider when deciding on an employer health plan that is best for themselves or their family.
“We believe that advisors are in the best position to help educate individuals about planning for and saving for health care expenses in retirement,” Franklin Templeton’s Kevin Murphy, senior vice president and national retirement plan strategist, said in a statement. “The HSA is quickly becoming a key focus of the retirement industry, and the CHSA program provides the information and training to prepare for this upcoming opportunity.”
The CHSA is a fairly new designation program “designed to provide a robust understanding of how the HDHP and HSA can be utilized and equips financial professionals with the tools necessary to assist employees in reaching their personal retirement goals.”
“Access Point and Franklin Templeton are committed to supporting advisors and consultants in relation to their HSA practice and will continue to offer the CHSA designation program in various locations throughout 2018,” the companies said. On March 1, 2018, they kicked off a quarterly series of educational webcasts exclusively for CHSA designation holders.