People more likely to not overspend were those with pension income, homeowners, and those who claimed Social Security later rather than earlier.

While employers may want to communicate benefits information more effectively, this is just one of many tasks falling upon frequently understaffed human resources departments. As a result, many companies condense their benefit communication efforts into the open enrollment period rather than spreading communications throughout the year.

Many Americans are unaware about current rules and proposed ones regarding contributing to an HSA and being on Medicare.

Despite the prevalence of digital assets as investments as well as their use in commerce, the IRS has only issued limited guidance.