HSA prognosis: Good, but large dose of knowledge needed
It appears providing more information on the long-term advantages of a health savings account (HSA) is just what the doctor ordered.
To better understand how to help employees prepare for their potential medical expenses in the future, Optum Bank and Empower Retirement conducted a recent survey that focused on current consumer attitudes and healthcare savings strategies. While many workers remain unclear on the financial benefits an HSA can provide, there is a clear opportunity for employers to offer more essential education.
As research reveals, an HSA can serve as a valuable retirement resource for many Americans — they just need some direction.
- Employees are craving more advice and guidance when it comes to planning for their future.
- Although 47% of workers have an HSA (or have had one in the past), many holders are unsure how to use it.
- Through consistent communication and impactful messaging, employers can help close the HSA knowledge gap.
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As the latest insight from Empower suggests, government retirement plans are doing their best to fight COVID fatigue, too.
Data shows most plan participants want to avoid taking money out of their retirement accounts.
Employers can better understand workers’ needs by studying their past experiences and personal backgrounds.