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A summary of the articles included in the June 2018 edition:
- Is Investing in an HSA a Good Idea?
- Health Insurance Coverage: Early Release of Estimates From the National Health Interview Survey, 2017
- SEC Lays Out Valuable Features of HSAs
- When it Comes to HSA Plan Enrollment, Intention is Everything
- Millennials: Here’s What to Consider Before You Dive Into a Health Savings Account
- WEX Health Survey Finds Many Americans Need Help Making Better Health Benefits Choices
Is Investing in an HSA a Good Idea?
The long-running bull market is making it more tempting than ever for clients to try and realize long-term, tax-free earnings growth within HSA accounts. That strategy can often make sense, say financial professionals, but financial advisors should make sure clients fully understand their range of options.
Health Insurance Coverage: Early Release of Estimates From the National Health Interview Survey, 2017
In 2017, 43.7% of persons under age 65 with private health insurance were enrolled in an HDHP, including 18.2% who were enrolled in a CDHP (an HDHP with a health savings account [HSA]) and 25.5% who were enrolled in an HDHP without an HSA. Among those with private health insurance, enrollment in HDHPs has generally increased since 2010. The percentage of persons enrolled in an HDHP increased 18.4 percentage points, from 25.3% in 2010 to 43.7% in 2017.
SEC Lays Out Valuable Features of HSAs
The Securities and Exchange Commission’s (SEC)’s Office of Investor Education and Advocacy has issued an Investor Bulletin regarding health savings accounts (HSAs).
Although an SEC bulletin is directed at employees invested in HSAs, its description of useful HSA features depending on how investors use HSAs can be informative to plan sponsor clients.
When it Comes to HSA Plan Enrollment, Intention is Everything
Based on Mercer’s National Survey of Employer-Sponsored Health Plans, growth in consumer-directed health plan enrollment slowed in 2017. Mercer finds that enrollment levels in HSA plans are related to how employers view the plan – a finding that could be useful to employers hoping to grow enrollment.
Millennials: Here’s What to Consider Before You Dive Into a Health Savings Account
Adopting a health savings account as a young worker could be a smart financial choice. But look before you leap. Millennials’ participation in HSAs has jumped in recent years. In 2018, 76 percent of those eligible had enrolled in an account, up from 40 percent in 2017, according to a recent report from benefits administrator Benefitfocus. That’s a bigger jump than in any other generation (although millennials still lag behind Gen Xers and baby boomers in HSA adoption).
WEX Health Survey Finds Many Americans Need Help Making Better Health Benefits Choices
WEX Health unveiled research findings from its first-ever Clear Insights report. The report, which reveals how consumers view and engage with their healthcare benefits, will help guide innovative and improved education programs for WEX Health partners.