Women face more challenges when it comes to savings and retirement. It is primarily because women encounter a wage gap that follows them into their retirement years. Women only have 70% of the overall income in retirement that men enjoy. Many in that age group have no retirement savings at all. In light of these facts, women need to plan for their retirement and consider health savings accounts (HSA) as a tool to help them achieve their goals and set themselves up to be financially secure.
Tax season is upon us. Whether this is your first year with an HSA or you need a little refresher, we have compiled a guide to help you during this tax time.
There are some fundamental differences between FSA and HSA. We share four key things employers must understand about HSAs.
When it comes to contributing to HSA and a 401(k), there isn’t an easy answer. Depending upon your situation, the answer could vary. We review a couple of possible strategies.
January marks the start of a new year and is a great time to remind your employees that they have until April 15th, 2022 to make contributions and max out their health savings accounts (HSAs) for 2021. Encouraging your employees to contribute to their HSAs will...
Is your HR team understaffed and overwhelmed? If you answered yes to this question, it wouldn’t be a big surprise since many businesses feel this pain. According to a recent study, tedious administration tasks take up over 73% of a human resource department’s time...
The health savings account (HSA) turns 18 years old this December! HSAs were established into federal law by the Medicare Prescription Drug Improvement and Modernization Act of 2003 and were designed to help people save for future health care expenses. While the HSA...
A shoebox and a health savings account aren’t two things that instantly go together in your mind. However, if you’re ready to start maximizing the potential of your HSA account, the shoeboxing strategy may be perfect for you! Many people treat their HSA accounts like...
Most Americans aren’t adequately prepared for retirement. To make matters worse, the majority aren’t saving enough to catch up. And that is not including medical expenses in retirement. In 2020, a couple could need $325,000 for healthcare-related expenses in...