HSAs Well Poised For Future Benefit Packages
In June, I attended the 70th annual Plan Sponsor Council of America (PSCA) conference. The PSCA is celebrating 70 years of caring for employees and protecting their retirement benefits, and it was truly moving to hear about their history in the opening session. They’ve been at the forefront of the retirement and benefit discussion for a long time and recent years have been no exception.
The PSCA created an HSA committee in 2016 and released the first HSA-focused survey of PSCA members. The survey indicated that over 75% of employers who responded to the survey view the HSA as part of their retirement benefits strategy and are looking to HSAs to be part of a healthcare and a retirement solution.
I talk with advisors and employers across the country and loved the enthusiasm displayed at the conference. My preliminary take away is that PSCA members are frequently thought leaders, especially in the employee benefits arena. And if I’m correct, health savings accounts are well situated to be a key component of the benefit package going forward. In the words of PSCA Executive Director Tony Verheyen, “Absent legislative action that would curtail HSA tax preferences, HSA accounts are here to stay.”