Benefits

Experts say such offerings could help improve employees’ financial wellness and retirement security.

Experts say offering company matches and/or seed money, as well as implementing automatic enrollment into the plans, can boost workers’ engagement with HSAs.

Plan sponsors can promote the HSA benefit as a part of employees’ financial wellness and liken its importance to other financial planning tools.

Experts say providers should be able to educate participants about how the accounts work and their triple tax benefits.

A session during the first day of PLANSPONSOR’s 2021 HSA Conference revealed ways employers can enhance their programs’ participation rates. 

Speakers at the virtual PLANSPONSOR 2021 HSA Conference discussed features of health savings accounts (HSAs) and rules regarding them.

Medicare only covers several types of medical costs for retirees, not including premiums and deductibles. Experts say it’s time for both groups to learn what that means. 

They say their employers don’t provide enough educational resources, but plan sponsors can rectify this.

Now is the time to encourage positive behaviors, especially with health care benefits, sources say.

The bills introduced in the state legislature would require companies with 10 or more employees that have been in business two years or longer that do not offer...

Plan sponsors discussed benefits they consider part of their financial wellness offerings that might not typically be viewed as such.

Many are continuing the practice in 2021 and continuing to use different types of communications to reach employees.

Data can inform plan sponsors about what benefits to offer as well as how to steer employee use of benefits.

Specific benefit offerings and increased communications are needed to help employees and to keep costs down.

Nearly 30% of workers have no emergency savings fund, leading many to raid their retirement accounts.

Opponents say small business could suffer and cut benefits, such as employer contributions to retirement plans, as a result of a $15 minimum wage.

In addition, program topics that were once a rarity have now become commonplace, and financial well-being offerings are expanding into nontraditional benefits.