The Role of HSA’s in Retirement Planning
Date: May 29, 2024
Time: 2:00 pm - 3:00 pm EST
Total spending on health-related expenses occupy 20% of U.S. GDP today and is forecasted to rise 4-7% annually. Building individual or family health security via a personalized savings strategy is crucial for working Americans. The Health savings trust account, known as HSA, makes this strategy more affordable due to unrivaled tax breaks from the government. Taking advantage of the full scope of these breaks requires awareness and education of health plan and HSA features and their role in retirement planning, which this session delivers.
By the end of this webinar, attendees will better understand…
- The similarities and differences of Health Savings Account (HSA) regulation built from Individual Retirement Accounts (IRA) chassis.
- How to counsel clients on making health plan decisions based on their life stage, understanding the benefits of High Deductible Health Plans (HDHP) with HSAs, and leveraging Supplemental insurance options with an HSA.
- Discussing key Medicare planning topics, such as Income-Related Monthly Adjustment Amount (IRMMA) and Modified Adjusted Gross Income (MAGI) as they relate to financial planning.
- Explaining the benefits of using an HSA as a lifetime account, demonstrating value-add to clients in both present and future financial planning and retirement planning.
- Analyzing the tax-free attributes of HSAs and understanding how they can benefit High Net Worth (HNW) clients in ways that traditional IRAs cannot, including details such as no Required Minimum Distributions (RMD), no income limits, and annually indexed limits.
This webinar is pending approval for one (1) hour of Continuing Education (CE) credit for Fi360, CFP Board, and IWI Designations.
