Long-term financial planning and savings in health care expenditures continue to be affected, but employers can help.
Despite strong market performance, investments to health savings account holders declined sharply in 2021.
According to a report by level. The HSA platform for companies and individuals, 80% of HSA account holders cut their investments in 2021. Hassas provides a pre-tax account to cover health care expenses and retirement investments.
The second annual report of health and safety account holders was examined and found that most health and safety account holders spent at the same contribution rate, preferring to use their accounts to spend on tax benefits. This indicates that HSA is the latest investment account to hit the financial pressures associated with the epidemic, which also prompted the withdrawal of funds from ERAS and 401k).
Most of their owners agree, not savers.
Seven people have been identified as account users based on patterns of behavior and changes in spending, saving and investment as of 2020. Most users fall into the category of people who have never invested in their risk assessment system.
Some highlights of the level report:
Most HSA holders spend on pre-tax health care expenses, assuming an average distribution of €1,700 per year.
55% of users have an average origin of US $1010.
The smartest HSA investors have an average asset of $36,763, an investment of over 98%.
only 4.1% use owned exclusively as a means of retirement savings.
It can help the employer's contributions And since the report shows that most account holders own them, they spend about the same rate this year, the level of Rakumanda.
The report also concluded that:
- Most account holders cannot be actively saved for unexpected health care costs or retirement.
- When the employer contributes, workers' contributions increase by 150%.
- Family income is not necessarily linked to the balance of accounts.
In addition, the report recommends that employers can take action to increase the contributions of HSA employees. By providing access to financial planning specialists, employers can help individuals make better use of HSA accounts and combat the trend of financial ill-health exacerbated by medical expenditures.
Other recommendations of employers include:
- Increasing education over tax benefits and investment
- Strengthening the ceiling on annual contributions
- Reduction or elimination of accounting fees and minimum investment
Adoption of reliable and user-friendly technologies
Syllabus: 50,000 HSA were randomly selected for the study, including calculations with or without active contributions. Based on this series of data from anonymous owners, the Data Science Group organized the Grupo level and identified seven "characters it owned."