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A summary of the articles included in the December 2019 edition:
- How to Use the HSA, for Medical or Retirement Savings
- Open Enrollment Is Coming: Consider An HSA
- Paragon Benefits Selects Bend Financial to Power Its HSA Management Offering
- 5 Ways HSAs Can Help Employees Save for Retirement
- Bipartisan HSA Reforms Advance in House Committee
How to Use the HSA, for Medical or Retirement Savings
The health savings account, or HSA, can be a powerful savings tool-if you approach it the right way.These accounts, which Congress authorized in 2003, are more than just a simple savings tool for medical emergencies. Retirement planners laud the HSA’s triple tax advantage and its use as a complementary savings vehicle to 401(k) plans.
Open Enrollment Is Coming: Consider An HSA
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.
Paragon Benefits Selects Bend Financial to Power Its HSA Management Offering
Bend Financial (Bend) announced that it has been selected by Paragon Benefits to provide the health savings account (HSA) technology solution for the 250 banks, 40 self-funded accounts and hundreds of cafeteria plans that it manages healthcare expenses for. Bend’s technology makes it easy for Paragon to administer health plans and for its clients to track, manage and optimize their health savings.
5 Ways HSAs Can Help Employees Save for Retirement
With open enrollment in full swing, it’s time for your employees to review their health insurance options. Many workers will check the same box as last year, leaving their health insurance unchanged for another 12 months. But by making this quick, uninformed decision, employees are potentially missing out on a powerful retirement savings tool.
Bipartisan HSA Reforms Advance in House Committee
The powerful House Ways and Means Committee reported out three bipartisan bills on October 23rd that would expand and improve the flexibility of health savings accounts (HSAs). The three pieces of legislation, which reflects employer recommendations for modernizing and enhancing HSA rules, would make several updates to current law.