At 24HourFlex, we believe that if you're not growing, you're dying and we take that very seriously. This is a theme you'll find throughout our organization and technology is no exception. Our robust mobile application and consumer portal is constantly updating and improving to make our consumers' lives easier and their health spending accounts manageable.
It’s no secret that health savings accounts (HSAs) are widely and often woefully misunderstood. This communication breakdown has manifested itself in misconceptions even among financial advisors—a cohort that many Americans entrust with helping them make critical decisions about their financial futures.
A HSA is a better retirement savings vehicle than a 401(k), but not all advisors are aware of this, nor that contributions to HSAs aren’t subject to federal income taxes; earnings from interest and investments are tax-free; and distributions from a HSA to pay for qualified medical expenses are tax-free.
“A real opportunity exists for financial advisors to play a major role in educating business owners about the benefits of health savings accounts for both their business and their employees,” said Kristi Rodriguez, leader of the Nationwide Retirement Institute.