Are HSAs Part of Your Practice?

Last week, the powerful House Ways & Means Committee took up several bills aimed at expanding consumer-directed health care plans, notably health savings accounts (HSAs). This was not the first – or likely the last – time that lawmakers will look to expand and enhance these accounts.

This week we’d like to know your take on HSAs – and how, if at all, they fit in with your practice.

A recent report finds that Fidelity’s HSA account holders are contributing less than half of what they could be to their HSAs. According to Fidelity’s data, in 2017 the average employee and employer contributions for an individual totaled $1,808 out of a contribution limit of $3,400, while the average contributions for a family totaled $3,807 out of a contribution limit of $6,750.

Moreover, that survey is not the only one that has found that, on average, those who contribute to both an HSA and a 401(k) save more – 8.9% in the 401(k) and an additional 2.9% in the HSA. For workers who save only in the 401(k), the average contribution rate is just 6.8%.

So this week, we’d like to know: Do you work with HSAs, and do your plan sponsor clients offer them? Are participants in those plans permitted to invest in more than cash/money market funds – and if so, do they? And do you think an increase in those plans would be good – or bad – for retirement savings?

Reply to this week’s NAPA Net reader poll at

And we’ll have it all wrapped up for you on Friday!

And Don’t Forget…

p.s.: Don’t forget to vote – or to vote again – on the topics for the 2019 NAPA 401(k) Summit. Our unique online voting tool will bring up two different session topics. All you have to do is pick your favorite – or add your own idea for others to vote on. Then you’ll get two more choices – vote or add one of your own. If you don’t like either of the suggestions (though that’s not likely) – there’s even an option for that. Every time you suggest an idea, it’s added to the pool of ideas that others vote on.

You can vote at

But beware: This can be addictive.

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