Employees are using HSAs as spending, not savings, accounts, despite the fact that such accounts are “triple-tax advantaged.” (Image: Shutterstock)
They don't understand them, or they don't know enough about them to see why they should be using one.
That's employees' attitudes toward health savings accounts, according to the Willis Towers Watson 2018 Health Accounts Employee Attitudes Survey, which finds that just 25 percent of employees consider saving in an HSA to be a top priority—even though 82 percent of workers regard medical expenses as their biggest challenge.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
