There used to be a time when employee financial wellness wasn’t HR’s concern and medical benefits were the driving force in strategy. In recent years, financial wellbeing has emerged to become equally important as health - as they both impact each other.
On that same thought, retirement planning once came down to relying on a pension or social security. Now, pensions have been replaced with employee-funded vehicles like 401(k)s and IRAs. But even that isn’t enough. Retirement costs are at an ultimate high, and your employees could be looking at an estimated $260,000 to cover healthcare costs during retirement, according to Fidelity’s Retiree Health Care Cost Estimate.
There’s a way to help employees gain financial security: Heath Savings Accounts (HSAs). HSAs are a way to guide employees as a long-term savings vehicle for tomorrow, rather than a spending vehicle for today. With the needs of today’s workforce and the healthcare landscape constantly evolving, it’s time to rethink the way employers and employees are consuming HSAs.
Join Jim Gandolfo, SVP, Product Advisor CDH at PNC, Brandon Wood, President of Client Experience at Maestro Health and John Pryor, Vice President of Benefit Accounts at Maestro Health, as they discuss what’s to come with HSAs.
Here’s what we’ll cover:
· The new way to save – How HSAs are changing employees’ financial wellbeing to save money for health expenses near and far
· The new way to educate – How to end enrollment confusion and low adoption rates with improved communication, education, modern marketing techniques and technology
· The new way to partner – How to find a partner to help you optimize your HSA strategy
· The new legislation – How to make decisions based on the law today or where the law might go