PLANADVISER - January/February 2018 - 44
beyond(k)
HSAs in Retirement Planning
A
Why you should consider learning more about these supplemental accounts
2017 report by the Employee
Benefits Research Institute
(EBRI) said that, last year, a
65-year-old man needed $73,000 in
savings and a 65-year-old woman
$95,000 for each to have a 50% chance
of being able to cover premiums and
median prescription drug expenses
in retirement. If they wanted a 90%
chance of having enough saved, the
man would need $131,000 and the
woman, $147,000.
Having too little money to pay for
health care or long-term care is the
greatest fear adults have about aging,
Genworth found in a survey of 1,200
people, but, despite these apprehensions,
only 20% of Americans have
taken any steps toward figuring out
how to finance, or toward actually
financing, long-term care costs.
Over the last decade, as the expense
of health care has increased, one way
employers have attempted to mitigate
this is by offering high-deductible
health plans (HDHPs), in some cases
with a health savings account (HSA)
to allow employees tax-free savings
to help finance their medical needs.
Due to the flexibility afforded to those
saving in an HSA, the accounts have
become part of the retirement savings
discussion.
Bill Peartree, principal/director
of retirement services in the retirement
services division of Marsh &
McLennan Insurance Agency in San
Diego, and Rick Ferguson, client executive,
also in retirement services, in the
firm's San Francisco office, note that
more defined contribution (DC) plan
providers are getting into the HSA
business. Few advisers are jumping on
the bandwagon just yet; however, the
men predict that acceptance, in time,
will gain momentum.
While advisers might not be wellversed
in these programs, many plan
sponsors are. The 2018 PLANSPONSOR
Defined Contribution Benchmarking
44 | planadviser.com january-february 2018
Art by Katherine Streeter
http://www.planadviser.com
PLANADVISER - January/February 2018
Table of Contents for the Digital Edition of PLANADVISER - January/February 2018
Big Ideas
2018 PLANADVISER Top 100 Retirement Plan Advisers
2018 PLANADVISER Micro Plan Survey
Value Added
The Magic of Local Events
Warming to ESG
HSAs in Retirement Planning
PLANADVISER - January/February 2018 - Cover1
PLANADVISER - January/February 2018 - Cover2
PLANADVISER - January/February 2018 - 1
PLANADVISER - January/February 2018 - 2
PLANADVISER - January/February 2018 - 3
PLANADVISER - January/February 2018 - 4
PLANADVISER - January/February 2018 - 5
PLANADVISER - January/February 2018 - 6
PLANADVISER - January/February 2018 - 7
PLANADVISER - January/February 2018 - 8
PLANADVISER - January/February 2018 - 9
PLANADVISER - January/February 2018 - 10
PLANADVISER - January/February 2018 - 11
PLANADVISER - January/February 2018 - 12
PLANADVISER - January/February 2018 - 13
PLANADVISER - January/February 2018 - 14
PLANADVISER - January/February 2018 - 15
PLANADVISER - January/February 2018 - 16
PLANADVISER - January/February 2018 - 17
PLANADVISER - January/February 2018 - Big Ideas
PLANADVISER - January/February 2018 - 19
PLANADVISER - January/February 2018 - 20
PLANADVISER - January/February 2018 - 21
PLANADVISER - January/February 2018 - 2018 PLANADVISER Top 100 Retirement Plan Advisers
PLANADVISER - January/February 2018 - 23
PLANADVISER - January/February 2018 - 24
PLANADVISER - January/February 2018 - 25
PLANADVISER - January/February 2018 - 26
PLANADVISER - January/February 2018 - 27
PLANADVISER - January/February 2018 - 28
PLANADVISER - January/February 2018 - 29
PLANADVISER - January/February 2018 - 2018 PLANADVISER Micro Plan Survey
PLANADVISER - January/February 2018 - 31
PLANADVISER - January/February 2018 - 32
PLANADVISER - January/February 2018 - 33
PLANADVISER - January/February 2018 - 34
PLANADVISER - January/February 2018 - 35
PLANADVISER - January/February 2018 - 36
PLANADVISER - January/February 2018 - 37
PLANADVISER - January/February 2018 - Value Added
PLANADVISER - January/February 2018 - 39
PLANADVISER - January/February 2018 - The Magic of Local Events
PLANADVISER - January/February 2018 - 41
PLANADVISER - January/February 2018 - Warming to ESG
PLANADVISER - January/February 2018 - 43
PLANADVISER - January/February 2018 - HSAs in Retirement Planning
PLANADVISER - January/February 2018 - 45
PLANADVISER - January/February 2018 - 46
PLANADVISER - January/February 2018 - 47
PLANADVISER - January/February 2018 - 48
PLANADVISER - January/February 2018 - Cover3
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