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Health Savings Accounts as Retirement Savings Protection
The topic of healthcare spending and its impact on retirement savings has gained more interest over the past few years. With the retirement income and savings discussions well underway in the industry, financial providers are beginning to assess threats to retirement security. As expected, healthcare tops the list. On both counts—retirement and healthcare—the financial world is facing a dilemma that will become more central to the budget planning of firms, sales of advisors, a nd the financial planning needs of investors. In this white paper, FRC takes a look at the issues the industry will face over the next few years related to healthcare spending, specifically, the position firms should take regarding the partial solution offered by health savings accounts. We also review the rationale behind our adoption of more conservative projections for growth in assets and accounts. Table of Contents I. Sizing The Healthcare Need . . . . . .2 II. Understanding the HSA Market . . .4 III. Measuring Success . . . . . . . . . . . . .4 A. Assets . . . . . . . . . . . . . . . . . . . . .5 B. Accounts . . . . . . . . . . . . . . . . . .7 IV. Assessing Products, Providers, & Platforms . . . . . . . . . . .7 A. Products . . . . . . . . . . . . . . . . . . .7 B. Providers . . . . . . . . . . . . . . . . . . .8 C. Platforms . . . . . . . . . . . . . . . . . .9 V. Examining Distribution & Marketing . . . . . . . . . . . . . . . . . .9 A. Distribution . . . . . . . . . . . . . . . . .9 B. Web Marketing . . . . . . . . . . . . .9 VI. Evaluating Growth Drivers & Risks . . . . . . . . . . . . . . . . .11 A. Growth Drivers . . . . . . . . . . . . .11 B. Risks . . . . . . . . . . . . . . . . . . . . . .12 C. Recommendations . . . . . . . . .12 For more information on this report, contact FRC today at 888-491-9788 or e-mail frcinfo@frcnet.com.