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711 Matching News Items
1.
Flexible Spending Accounts, 2022: Forfeitures on the Rise
Employee Benefit Research Institute [EBRI]
May 2, 2024
Employee Benefit Research Institute [EBRI]
May 2, 2024
"The average FSA contribution in 2022 was $1,291. The vast majority -- 85 percent -- of accountholders took a distribution in 2022. Among those who did, the average distribution was $1,323.... Roughly half of FSA accountholders forfeited funds to their employer in 2022. The average forfeiture was $441."
2.
2024 Retirement Confidence Survey: Majorities Remain Optimistic About Retirement Prospects
Employee Benefit Research Institute [EBRI]
Apr. 25, 2024
Employee Benefit Research Institute [EBRI]
Apr. 25, 2024
"68% of workers and 74% of retirees are confident they will have enough money to live comfortably throughout retirement.... [T]his is not a significant increase from last year.... Most workers (88%) expect Social Security to be a source of income in retirement.... Half of Americans have tried to calculate how much money they will need in retirement. In reaction to their calculation, 52% of workers and 44% of retirees started to save more.... Workers would like help saving for emergencies through their retirement plan.... Workers are more likely this year to want to purchase a guaranteed income product with their retirement savings."
3.
Plan Participant Preferences for Site of Care Lean Toward Physician Offices (PDF)
Employee Benefit Research Institute [EBRI]
Apr. 25, 2024
Employee Benefit Research Institute [EBRI]
Apr. 25, 2024
"[P]lan participants generally preferred to receive certain health care services in [physician offices] over [hospital outpatient departments], were not willing to pay more for services performed in their preferred facility, and were not likely to think that physicians tied to a hospital system were better quality physicians or that higher costs were an indicator of higher quality."
4.
Individuals View HSAs as Investment Accounts, But Aren't Investing Them (PDF)
Employee Benefit Research Institute [EBRI]
Apr. 18, 2024
Employee Benefit Research Institute [EBRI]
Apr. 18, 2024
"[T]he majority (60 percent) of [HSA] accountholders reported that they are using the account to take advantage of employer contributions. Similarly, 58 percent opened their HSA to save for future health care expenses and 52 percent to save on taxes.... Almost one-half of accountholders would be more likely to accumulate and invest unused funds if they were provided an annual review of their HSA balance, and one-third (35 percent) would be more likely to accumulate and invest unused funds if information about the account benefits and how it works were sent to them via email."
5.
HSAs vs. PPOs: Impact of Plan Type on Use of Health Care Services and Spending.
Employee Benefit Research Institute [EBRI]
Apr. 11, 2024
Employee Benefit Research Institute [EBRI]
Apr. 11, 2024
"Inpatient admissions and days were higher in HSA plans than in PPOs.... HSA plan enrollees used emergency departments less than PPO enrollees.... HSA plan enrollees filled fewer prescriptions as compared with PPO enrollees.... Among individuals with no health conditions, HSA plans resulted in fewer emergency department visits relative to PPO enrollees, fewer specialist visits, and fewer prescription drug fills, while visits to primary care providers increased."
6.
HSA Analysis Finds Contributions Below Maximum Levels, Most Accountholders Taking Distributions and Few Investing
Employee Benefit Research Institute [EBRI]
Mar. 28, 2024
Employee Benefit Research Institute [EBRI]
Mar. 28, 2024
"Average employee contributions rose to $1,962, while the average employer contribution decreased slightly to $762.... Over one-half of accountholders withdrew funds. The average distribution rose to $1,868, continuing to rise from the COVID-era lows observed in 2020."
7.
Financial Wellbeing and Implications of Rising Health Care Costs (PDF)
Employee Benefit Research Institute [EBRI]
Mar. 28, 2024
Employee Benefit Research Institute [EBRI]
Mar. 28, 2024
"Individuals in high-deductible health plans (HDHPs) were a little more likely than those with traditional health coverage to report feeling very secure (19 percent vs. 16 percent) ... Among those experiencing an increase in cost [in 2023], [t]wo-thirds reduced their discretionary spending, while one-half reduced contributions to non-retirement savings. About four in ten increased credit card debt, put off or skipped health care, or had difficulty paying other bills."
8.
Trends in Health Savings Account Balances, Contributions, Distributions, and Investments, 2011–2022
Employee Benefit Research Institute [EBRI]
Mar. 21, 2024
Employee Benefit Research Institute [EBRI]
Mar. 21, 2024
"End-of-year balances increased in 2022 to $4,607, but overall, average balances are still modest.... Relative to 2022, average ... individual contributions rose to $1,962, while the average employer contribution decreased slightly to $762.... [O]ver one-half of accountholders withdrew funds."
9.
How Has Health Care Behavior Changed Over Time? (PDF)
Employee Benefit Research Institute [EBRI]
Mar. 14, 2024
Employee Benefit Research Institute [EBRI]
Mar. 14, 2024
"Among the key reasons that employers adopt high-deductible health plans (HDHPs) is the hope that such cost sharing will lead to more cost-conscious health care behavior.... [P]articipants in such plans generally were more cost conscious than participants in traditional health care plans in past years ... That was no longer the case in 2023."
10.
2022 Health Savings Account Account Balances, Contributions, Distributions, and Other Vital Statistics
Employee Benefit Research Institute [EBRI]
Mar. 7, 2024
Employee Benefit Research Institute [EBRI]
Mar. 7, 2024
"HSA balances continued to increase over the course of the year, despite higher spending on health care.... Accounts that received an employer contribution saw higher total contributions and were more likely to invest.... Most accountholders took a distribution in 2022.... Relatively few HSAs are invested.... Age and tenure play a major role in HSA utilization."
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