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How HSAs can transform retirement planning and your common questions

WEX Inc.

And it’s a solution you might already be offering: the health savings account. These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Despite all the options available, only 36 percent of non-retirees said in a 2019 survey that their retirement saving is on track.

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An Ode to HSAs in 5 Parts 

Benefit Resource Inc.

Health Savings Accounts (HSAs) are basically the hot new(ish) accessory in the benefits world these days. No matter where you are in your career, or in life, your Health Savings Account will be your constant companion. We talked previously about how HSAs and 401(k)s pair nicely together.

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How will you cover health care expenses in retirement?

Benefit Resource Inc.

If you are currently employed, there is one change you can make to start saving: Enroll in a Health Savings Account (HSA). We’ll go over the three reasons why enrolling in an HSA might be the best option for you in order to save on health care expenses in retirement. The tax savings.

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Covering health care costs in retirement

Benefit Resource Inc.

Whether it’s right around the corner or still decades away, there is never a wrong time to consider how to cover health care costs in retirement. According to a 2019 study by HealthView Services , couples in their 50s today are expected to pay around $400,000 in lifetime retirement health care costs.

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New COVID relief package extends payroll provisions

Business Management Daily

Relief for health savings accounts and dependent care assistance plans. The tax credit also applied if you suffered a significant decline in gross receipts, defined as a 50% drop in quarterly gross receipts when compared to the same quarter during 2019. Expanded criteria for loans under the Paycheck Protection Program.

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HSA vs. health care FSA: Which is better for you and your employees?

Insperity

HSA is the acronym for health savings account; FSA is the acronym for flexible spending account. An easy, basic way to distinguish what each account is intended for is by focusing on what the letter “S” represents in each: savings and spending. The FSA cap for 2019 is $2,700.

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Why you should offer Blue Cross Blue Shield Massachusetts health care to your employees

Genesis HR Solutions

Power ranked Blue Cross Blue Shield of Massachusetts number one in member satisfaction among all commercial health plans in Massachusetts. In 2019, BCBS Massachusetts achieved the highest score for coverage and benefits, provider choice, information and communication, and billing and payment. 401(k) Options.