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Greg Puig Shares HSA Strategies at 2024 PLANSPONSOR Conference

At PLANSPONSOR's 2024 HSA Conference, Greg Puig discussed benefits strategies as quoted in the article "PLANSPONSOR 2024 HSA Conference: The Purpose of HSAs."

HSAs have been a hot topic in recent years for their ability to serve as a vehicle for saving and/or spending. While many employers tend to only educate about their benefit offerings during open enrollment, Greg encourages them to offer a variety of educational opportunities throughout the year to keep participants engaged. From his experience, "trying to have a distinct education game plan outside of OE should help to boost participation." He recommends offering more holistic education sessions that cover both health and wealth needs.

“While having open enrollment, [an employer should] clue in their retirement adviser,” he said. “Have the adviser and the broker come together, covering some medical slides, covering some retirement slides.”

Greg also emphasized the importance of understanding the different types of people in a given participant base. To better categorize the various ways people tend to use HSAs, he groups them into the following buckets: spenders, savers and spenders, and investors. Employers should leverage these insights when tailoring an HSA program to their organization's specific needs. 

Read the full article here.

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