Financial professionals may be much more interested in health savings accounts these days, but that doesn't mean that plan participants are — or that they quite know what to do with them.
So says new research from Cerulli in the fourth-quarter 2018 issue of The Cerulli Edge — U.S. Retirement Edition, which says that financial professionals, including asset managers, recordkeepers, consultants and plan sponsors, are "talking past each other" when it comes to retirement income solutions, and participants really have little idea of what health care costs might do to their finances in retirement — something that sponsors should address by quantifying the impact such costs can have.
"Interest in the HSA market from the DC community (i.e., defined contribution investment-only asset managers, recordkeepers, advisors/consultants) has peaked in the last 12–24 months due to an increased emphasis on holistic financial planning and financial wellness programs," Dan Cook, an analyst in the retirement practice at Cerulli, is quoted saying in the report.
