HSAs have no annual use-it-or-lose-it requirements, and balances can be carried forward from year to year and withdrawn tax-free in retirement to pay for medical expenses, such as Medicare and long-term care premiums — but not Medigap premiums.
Health savings accounts, often confused with flexible spending accounts, are prized for their tax leniency. But many things hold them back, including the high-deductible health plans to which they are tethered.
The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion.
An initial public offering of a stake in Jackson, one of the biggest annuities providers in the U.S., will be held in the first half of 2021, according to a Prudential statement.
Total U.S. annuity sales hit $58.7 billion in the last three months of the year, up 2% from the $57.6 billion during the same timeframe in 2019, according to data published by Limra’s Secure Retirement Institute. But sales were down for the full year.
Arkansas and Michigan become the latest states to adopt the National Association of Insurance Commissioners model rule
Guests at the RPA Convergence Broker-Dealer Roundtable and Thinktank say it might be a while before annuities are used in many plans.
The settlement includes $4.4 million in restitutions to harmed customers over the sales of unsuitable VA, mutual fund and 529 products
The decision follows a similar one by Prudential Financial to stop selling variable annuities with living benefits, amid extremely low interest rates
While the majority of plans don't include such options, employers have become more receptive to financial wellness, according to new research
As more commission-free products come to market, RIA firms are beginning to provide insurance solutions to clients
Health care is the top financial concern, survey reveals; 32% worry about unemployment
Sen. Richard Neal, D-Mass., criticized the measure for not including an assumption that 401(k) balances appreciate
But total annuity sales year-to-date are off 13% from 2019
In the current interest rate environment, income annuities find themselves in the unique position of being a competitive investment tool
SECURE Act provisions providing plan fiduciaries with some legal protection, requirements for lifetime income disclosures on 401(k) statements and a volatile stock market all bode well for these products
Income brackets to be adjusted for inflation for high-income retirees next year
Chief Executive Jenny Johnson outlined the $1.4 trillion manager's interest in technology and retirement assets at the Spark Forum
High-income surcharges apply regardless of how clients receive Medicare coverage
VA sales drop 10% in Q3, while fixed annuity sales increase 11%
