Employers view HSAs as part of their retirement benefits strategy

Just over 75 percent of employers view health savings accounts (HSAs) as part of their retirement benefits strategy, according to the Plan Sponsor Council of America’s (PSCA) HSA Snapshot survey. The survey found that approximately 80 percent of employees are eligible to participate in an HSA, when offered by the employer and the average account balance was $3,161.
More than 80 percent of the employers reported contributing to the HSA, where two-thirds provide a set dollar amount based on the HDHP coverage tier. Many plans (40 percent) front-load contributions at the start of the year, while 30 percent contribute each payday, PSCA found. In addition, more than half of respondents reported covering the cost of HSA maintenance fees for active employees, and 6 percent pay them for terminated employees.
PSCA noted that employers view HSAs in a positive light. The survey found that nearly 60 percent of the respondents believe HSAs should replace flexible spending accounts (FSAs), and nearly three-fourths of employers think HSAs should be open to all employees, not just those enrolled in a high-deductible health plan (HDHP).
SOURCE: https://www.psca.org/survey_HSA_2017
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