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A summary of the articles included in the November 2019 edition:
- Mercer Survey Finds US Employers Shifting to Innovative Strategies to Make Healthcare More Affordable for More Employees
- This Under-the-Radar Account Can Help You Save for Medical Expenses in Retirement
- Employers, Benefits Pros View Value of HSAs in Retirement Saving Differently
- If You Have Access to an FSA or HSA, Here’s Why You Should Sign Up for One This Year
- Lively Raises $27M in Series B to Increase Healthcare Savings Across America
- Investing HSA Savings Is Key to Building Accounts
Mercer Survey Finds US Employers Shifting to Innovative Strategies to Make Healthcare More Affordable for More Employees
Health benefit cost will top $13,000 per employee this year, according to the annual Mercer National Survey of Employer-Sponsored Health Plans 2019. The average total health benefit cost per employee grew 3.0% to reach $13,046, following a rise of 3.6% in 2018.
This Under-the-Radar Account Can Help You Save for Medical Expenses in Retirement
Fall is open enrollment season, and hidden in the fine print of your health insurance options may be an account that can help you save for one of the biggest expenses you’ll face in retirement: medical costs. Known as a Health Savings Account (HSA), this tool, offered in combination with high-deductible health insurance plans, is triple tax exempt.
Employers, Benefits Pros View Value of HSAs in Retirement Saving Differently
New survey results by HealthSavings Administrators finds that employers overwhelmingly outpace benefits professionals in viewing HSAs as a retirement planning tool. The survey of 270 benefits professionals and employers found that 90% of surveyed employers, benefit consultants, benefit brokers and financial advisors said HSA accountholders are either “somewhat or very knowledgeable” about using HSAs as a means of saving for retirement. Yet, only 16% of benefit professionals said they actually counsel accountholders to invest their HSA funds. In addition, more than 30% of respondents admitted that they do not know if their HSA accountholders are investing their HSA assets.
If You Have Access to an FSA or HSA, Here’s Why You Should Sign Up for One This Year
It’s that time of year – when your HR department starts sending emails and meeting invites to talk about your health insurance options for the coming year. But before you simply opt into the same plan and benefits as last year, take a moment to consider setting up a health savings account or flexible spending account this year if you don’t already have one in place.
Lively Raises $27M in Series B to Increase Healthcare Savings Across America
Lively announced a $27 million Series B round led by existing investor Costanoa Ventures, with participation from Ally Ventures, the strategic investment arm of Ally Financial, Liquid 2 Ventures, PJC, Teamworthy Ventures, Streamlined Ventures, and Y Combinator. This brings the company’s total funding to more than $40 million to accelerate its mission to transform the way Americans save for healthcare.
Morningstar 2019 Health Savings Account Landscape
Morningstar released their 2019 take on the HSA marketplace last week, which evaluated 11 HSA providers on their potential appeal to individuals looking to open an HSA. The report is based upon both publicly available information and responses submitted by providers as of 10/1/2019. Morningstar scored each HSA product from an individual account holder’s point of view, both as a spending and investing vehicle, aggregating marks to give providers an overall score out of 12.