Eight out of 10 Americans are highly concerned about healthcare costs in retirement, according to Merrill Lynch. At the same time, Fidelity research shows healthcare is the largest threat to retirement savings and the most important part of a retirement income plan. With this in mind, some in the industry are pushing to more closely link health savings accounts and 401(k)s, or health and wealth.

Retirement savings efforts today are not working, as they do not tell people what to save for in the first place, says Ryan Tiernan of Access Point HSA. “We say, ‘Save as much as you can,’ [yet] aren’t specific on how you save,” says Tiernan, senior HSA consultant at the Providence, R.I. company. “That is good advice, but we need to move the conversation to ‘save more and save more efficiently.’ … [Folks] need to be smart in how they save.”

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