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Miscellaneous Nuggets From Conferences Past

Money Talk

Studies have found that, when people identify with their future selves , they save more money for retirement. A psychological connectedness to future selves informs present behavior. Many people change their goals when presented with a master list of goals that forces them to think deeper about what they want.

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3 ideas from psychology to communicate about HSAs

Benefit Resource Inc.

Now that you’ve explained (again) how insurance works, you get to begin the real work of teaching employees the difference between Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs). If you are presented with information that doesn’t have an existing bucket, it will take longer to store.

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How does a decision support tool work?

Benefit Resource Inc.

Based on Toby’s choices in the previous step and the benefits offered by his employer, the tool will then present other benefits options he has: His employer’s Dependent Care FSA to save on child care expenses. A Health Savings Account to save on medical expenses.

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Tips for the Early Plan Year

Benefit Resource Inc.

Pre-tax benefits are a powerful tool for saving money and maximizing your income. From flexible spending accounts (FSAs) to health savings accounts (HSAs) and commuter benefits, these options offer significant advantages if managed wisely. This includes copayments, deductibles, prescriptions, and more.

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The Role of HSAs in Maximizing Retirement Benefits

Benefit Resource Inc.

One often-overlooked gem in the world of benefits is the Health Savings Account (HSA). This can incentivize employees to save more for both current and future healthcare needs. Integration with Retirement Plans: Explore ways to integrate HSA contributions with other retirement savings options, such as 401(k) plans.

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Aiding Employees With Retirement Planning Boosts Retention

Hppy

Employees worry about making it from paycheck to paycheck and try to live in the present. Stress this fact to employees, and encourage them to automate a consistent portion of their paycheck to their retirement savings. Some 401(k) plans increase savings rates over time, and some don’t.

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New COVID relief package extends payroll provisions

Business Management Daily

Relief for health savings accounts and dependent care assistance plans. 1, 2020, through 60 days after the date the law is enacted are entitled to the following relief: Employees may tap their 401(k) accounts, up to $100,000, without worrying about the 10% excise tax on early withdrawals. Through Dec.