Owners of health savings accounts appear to be using the accounts primarily to cover their current expenses rather than fully taking advantage of the accounts' tax preference by contributing the maximum or maintaining HSA balances for retirement health care expenses.
That is the highlight of longitudinal studies conducted by the Employment Benefit Research Institute.
Other highlights include the fact that the use of investments other than cash within HSAs remains low, and that end-of-year account balances increased between 2011 and 2020 but remained low.
“Between 2019 and 2020, average annual individual contributions fell,” EBRI said in a release. “It is possible that as unemployment increased during the pandemic, HSA owners reduced contributions. Notably, average annual distributions fell as well, reaching an all-time low. The decline in both contributions and distributions may also be due to lower use of health care services during the pandemic."
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
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Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
