The rising cost of health care is a top concern for employees and some say it’s affecting their retirement savings, finds new research released today from Bank of America Merrill Lynch.
Eight out of 10 employees surveyed say they’ve experienced an increase in health care costs over the past two years, and more than half of those (56%) say they’re saving less for retirement as a result. Seventy-six percent, meanwhile, say their company now offers a health savings account, among which 38% participate. HSA participation increases to 50% among pre-retirees (those within five years of retirement.)
