Forget the size of salaries and accounts banking. Wealth management is to 
everyone, and your employees want to make informed decisions on the benefits and retirement. retirement planning accounts for a variety of potential future expenses, such as food, housing and health care, but the relationship between health benefits and pension benefits may be deeper than the estimated medical costs.
Health services now, potential pension benefits later
a health savings account (HSA) is an account-Based Health Plan (ABHP) with tax benefits can be used to reimburse a person for eligible medical expenses. Think of an HSA as an IRA on steroids
The advantages of an HSA can stretch beyond the years of work by an employee at retirement, because :.
- The money in an HSA rolls over the year -to-year and is available if the employee retires, exchange companies, or even remain eligible to contribute to their HSA.
- money coming into an HSA is tax free.
- the funds in an HSA earn interest, also tax free.
- money spent on qualified medical expenses are tax-free.
- After 65 years (the age of Medicare eligibility) withdrawals for non -Management purposes are subject to income tax, but no penalty. (Non-medical withdrawals before age 65 are subject to both income tax and a 20% penalty.)
- employees and / or employers can contribute to the annual HSA contribution limit.
Rules HSA
to open or contribute to an HSA, an employee must have an HSA qualified high deductible health plan (HDHP). In 2016, a qualifying HSA HDHP must have a deductible of $ 1,300 for self-only coverage or $ 2,0 for family coverage. A person can contribute up to $ 3,350 or those with family coverage can contribute up to $ 6,750 this year. Rules on the eligibility criteria and the maximum annual premiums are updated annually by the IRS.
Options Other Health Benefits
Although an HSA is unique in that it is owned by the employee and available for use on qualified medical expenses incurred from the date the account was opened, it is certainly not the only option small health benefit of the company.
and the Act on small emergency health care companies pass an "independent HRA" called Qualified Small employer HRA (QSEHRA) will also be available.
Conclusion
health insurance is an annual expenditure and meaningful life for most Americans. When planning for retirement expenses and needs, it is logical to take account of health expenditure. HSA is distinguished by its ability to provide tax-free savings and distributions for medical expenses during his life. For people who can afford to bear the increased deductible and out-of-pocket maximums that the cover of the HDHP insurance policy makes an HSA may well be an important tool in their retirement planning arsenal.
As for companies that want to support their employees with health and retirement benefits owners, it is important to provide education benefits under the package. Decisions on participation in company pension and health plans can have a dramatic impact on the financial literacy of employees and stress.
What experiences have you had the management of the pension and health benefits planning? Tell us in the comments below!
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