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Voya Financial has launched a digital health savings account assistant designed to help employees make better decisions when contributing funds for future use.
Only 41% of Americans would be able to cover an unexpected $1,000 expense, according to data from Bankrate. As a result, 32% of hardship withdrawals out of retirement plans are the result of unreimbursed medical expenses, according to Voya’s hardship withdrawal data analysis.
Amanda Schiavo is an associate editor of Employee Benefit News. Follow her on Twitter at @SchiavoAmanda.
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