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stylized green HSA card with bandage (Photo: Shutterstock)

Interest in health savings accounts is on the rise, but there is still a gap in understanding about how HSAs work and how they can be used as a retirement savings tool. According to the Plan Sponsor Council of America’s (PSCA) 2021 HSA Survey, education about HSAs remains a key goal for plan sponsors.

More than half of organizations that responded to PSCA’s survey indicated they primarily educate employees about HSAs annually during open enrollment sessions, while about one-quarter continue education efforts throughout the year, the survey found.

 

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