Saving for Health Care in Retirement: How HSAs and 401(k)s Fit Together

EBRI [Employee Benefit Research Institute]

[Editor's note: PDF from June 9, 2021 presentation.]

A married couple with high prescription drug expenses throughout retirement could need as much as $325,000 when they retire to cover the cost of insurance premiums and health care expenses in retirement. Health savings accounts (HSAs) are one way to save for these expenses. However, sometimes workers may reduce the impact of these savings by cutting back on other retirement savings, such as 401(k) contributions, when they contribute to an HSA. This webinar will explore the interaction between HSAs and 401(k)s using empirical data. It will also examine financial planning for health care expenses in retirement more generally.

Speakers:
Paul Fronstin, Director, Health Research & Education Program, EBRI
Jake Spiegel, Research Associate, EBRI
Sharon Carson, Executive Director, JP Morgan
Todd Berkley, Conduent HR, Moderator

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