Vanguard Partners With HealthEquity To Offer Health Savings Accounts To 401(k) Participants
HSAs can be an effective, highly tax-efficient means to save for health care expenses in retirement, as outlined by recent Vanguard research. For Vanguard participants who elect to save in a HealthEquity HSA, Vanguard's Retirement Readiness Tool technology will integrate their HSA information with their 401(k) balance and other assets to give them a comprehensive view of their current and future retirement savings. Participants will also benefit from highly personalized communications that are rooted in behavioral finance and proven to successfully encourage their next best action.
"We're continuously expanding our financial planning tools and robust advice capabilities to improve financial wellness for millions of retirement savers. By meeting the financial needs of our participants today, we can help improve their retirement outcomes tomorrow," said
Participants investing in an HSA enjoy several benefits, including a triple tax advantage: 1) contributions are made pre-tax or are tax-deductible; 2) earnings and interest accumulate tax-free; and 3) withdrawals for qualified medical expenses are also non-taxed. After age 65, account owners can make withdrawals for any expense without a penalty; however, withdrawals used for anything other than medical expenses are taxed as income.
"Consumers who learn to use HSAs and DC plans together are on the fast track to retirement readiness. Our partnership with Vanguard offers plan sponsors a powerful solution to connect health and wealth," said
With
About Vanguard
Vanguard is one of the world's largest investment management companies. As of
About HealthEquity
HealthEquity connects health and wealth, delivering health savings account (HSA), 401(k) and other consumer driven health and retirement solutions in partnership with over 40,000 employers and 124 health plans and administrators nationwide. HealthEquity members have access to its end-to-end platform and remarkable "purple" service to become consumers of healthcare while building health and retirement savings for tomorrow. HealthEquity is the custodian of
All asset figures are as of
For more information about Vanguard funds, visit vanguard.com or call 800-662-7447 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.
All investing is subject to risk, including possible loss of principal.
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SOURCE Vanguard
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