Employees who overpay for health insurance tend to under-save for retirement: TIAA
During open enrollment, workers who make mistakes in health insurance decisions also make mistakes with their 401(k) decisions.
By Kristen Beckman|September 22, 2020 at 06:55 AM
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Employers have an opportunity to help employees avoid making common mistakes in health insurance and retirement savings choices, thereby improving employee well-being and maximizing their long-term financial stability, according to a new study by TIAA Institute.
The TIAA analysis correlated two studies — one on mistakes employees make when choosing health insurance plans and another on retirement savings mistakes — to see if employees who make mistakes in one domain also make mistakes in the other.
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