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A summary of the articles included in the July 2020 edition:
- How HSA and FSA Use Has Changed Amid the COVID-19 Pandemic
- Big Dose of HSA Education Needed
- How COVID-19 Has Transformed HSAs and Why They Enhance Today’s Benefit Packages
- Is HSA Investing a Sprint or a Marathon?
- Blue Cross and Blue Shield of Vermont Selects Further to Administer Consumer Directed Health Spending Accounts
How HSA and FSA Use Has Changed Amid the COVID-19 Pandemic
The COVID-19 pandemic has hit U.S. businesses hard, and many companies are struggling to keep the doors open while also dealing with new compliance issues, remote workers and rising costs. While looking to cut unnecessary spending from their budgets, employee health care is one area for potential savings. But according to a report from Aite Group, health benefits accounts might be safe-for now.
Big Dose of HSA Education Needed
A new white paper published by Optum Bank and Empower Retirement provides recommendations for encouraging retirement-focused health care savings via an HSA. At a high level, the paper shows that even employees who have an HSA often don’t understand how it works or how their contributions can be grown by investing the funds. Furthermore, most people seem to have no idea how much health care will cost in retirement, and they are open to learning more from employers.
How COVID-19 Has Transformed HSAs and Why They Enhance Today’s Benefit Packages
In this episode of the Expert Perspectives podcast, you’ll hear highlights from the May 19th presentation titled, How COVID-19 Has Transformed HSAs and Why They Enhance Today’s Benefit Packages. There are early predictions that, in 2021, the cost of healthcare for employers will rise by at least 6% – with increasingly costly implications stemming from the current COVID-19 pandemic. Curbing the costs of healthcare is essential, now more than ever, without sacrificing performance or support.
Blue Cross and Blue Shield of Vermont Selects Further to Administer Consumer Directed Health Spending Accounts
Blue Cross and Blue Shield of Vermont (Blue Cross) has selected Further, a leader in health care spending and savings account administration, to administer their consumer-directed health plan (CDHP) spending account administration services starting January 1, 2021.