Browsing Tag
Health Savings Accounts (HSA)
216 posts
HSA Assets on the Rise For Midyear 2023
HSA assets increased 17% by the first half of 2023 while accounts grew 6%, finds a Devenir report
Incentives Highlight Return of Transamerica ‘401(k)ares’ Campaign
Focused on middle market retirement business, renewed promotion to provide financial incentives through remainder of 2023
$500 Boost Projected for 2024 401(k) Contribution Limit
Forecasts from Mercer and Milliman each predict a $23,000 limit in advance of late October official announcement from the IRS
Millennium Trust Rebranding as Inspira Financial in 2024
New name reflects firm’s move beyond a trust and custody company to a “full-scale solutions provider”
401(k) Balances Up in 2023, But So Are Hardship Withdrawals, Loans
Bank of America's “Participant Pulse” survey reveals average plan balances have increased nearly 10% this year, but hardship distributions and loans are also on the rise
401(k) Gender Savings Gap Still Large, But Smaller for Younger Participants
Bank of America finds that while men’s average account balance exceeds women by 50%, women in younger generations are closing the gap
Rising Healthcare Costs Discourages Consumers from Enrolling
Over half of respondents listed pricey healthcare costs as a barrier to not enrolling in their health plan, finds HSA Bank
HSA Contribution Limits Get Biggest-Ever Boost for 2024
IRS releases new inflation-adjusted amounts for health savings accounts
How Much a 65-Year-Old Retiring in 2023 Needs to Cover Healthcare Costs
Milliman Retiree Health Cost Index finds a healthy 65-year-old retiree needs between $90,000 and $203,000 over remaining lifetime
80% of Older Americans Cannot Afford a Financial Emergency
New findings from the National Council on Aging found Americans aged 60 and up cannot afford to pay for a financial emergency like long-term care