With open enrollment in full swing, it’s time for your employees to review their health insurance options. Many workers will check the same box as last year, leaving their health insurance unchanged for another 12 months. But by making this quick, uninformed decision, employees are potentially missing out on a powerful retirement savings tool.
Health savings accounts are one way employees can save for retirement because they offer a tax-advantaged way to set aside money for qualified medical expenses. They’re also a great way to invest alongside other retirement accounts. With HSA contribution limits jumping to $3,550 for individuals and $7,100 for families in 2020, now is the time to consider their many benefits.
