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A summary of the articles included in the October 2018 edition:
- HSA Council Wins Key HSA Fix in Illinois Legislature
- Alegeus Predicts That Consumers and Employers Will Leave Billions in Tax Savings on the Table This Open Enrollment Season Due to Low Consumer Health & Financial Fluency
- ConnectYourCare Honored as One of the Nation’s Fastest Growing Companies
- Participants Mostly In the Dark About HSA Benefits
- UMB Healthcare Services and Bend Financial Partner to Launch Bend’s Innovative Health Savings Account Solution
- HSAs Functioning More As 401(k)s
HSA Council Wins Key HSA Fix in Illinois Legislature
Illinois Gov. Bruce Rauner last month signed a bill that would fix a state law inadvertently preventing hundreds of thousands of Illinoisans with high-deductible health plans from contributing to their health savings accounts. The American Bankers Association’s HSA Council worked closely with the state legislature to win unanimous passage of the bill.
Alegeus Predicts That Consumers and Employers Will Leave Billions in Tax Savings on the Table This Open Enrollment Season Due to Low Consumer Health & Financial Fluency
Alegeus announced its newest research report that evaluates consumer health and financial fluency. The report was commissioned to better understand consumer confidence and fluency in managing their personal finances and health benefits and to assess the degree in which fluency levels impede consumer progress to proactively manage their healthcare finances.
ConnectYourCare Honored as One of the Nation’s Fastest Growing Companies
ConnectYourCare has been named to Inc. magazine’s 2018 Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a comprehensive look at the most important segment of the economy-America’s independent entrepreneurs.
Participants Mostly In the Dark About HSA Benefits
As Congress debates expanding allowable contributions to health savings accounts, research shows most participants don’t make maximum contributions and many have little or no understanding of how HSAs work. “Raising the limits isn’t everything” for improving the use of HSAs, said Paul Fronstin, director of the health research and education program for the Employee Benefit Research Institute, Washington.
UMB Healthcare Services and Bend Financial Partner to Launch Bend’s Innovative Health Savings Account Solution
UMB Healthcare Services and Bend Financial announced a partnership to offer UMB custodial account, benefit card issuer and tier one customer support services on Bend Financial’s HSA platform, launching in Oct. 2018.
HSAs Functioning More As 401(k)s
Retirement plan advisers are increasingly interested in helping employer clients with their health savings accounts. But how should advisers look at these accounts? That depends on whether the employer wants to position the HSA as a transactional account or an investment account.