Press Release

HUB International Expands Hub Retirement Solutions with HSA Investment Account

Issued by HUB International

June 13, 2023

Participants Gain Access to a Leading Full-Service Health Savings Account and Customized Investment Platform

CHICAGO -- HUB Retirement and Private Wealth (HUB RPW), a division of Hub International Limited (HUB), announced today the launch of HUB HSA Investment Account, which will provide HUB clients in the U.S. the opportunity to save pre-tax dollars for future qualified medical expenses and invest in HUB selected funds.

According to the 2022 Fidelity Retiree Health Care Cost Estimate, an average retired couple age 65 may need approximately US$315,000 saved (after tax) to cover health care expenses in retirement. There are several factors behind this escalating cost challenge. In general, people are living longer, and health care inflation continues to outpace the rate of general inflation.

"There is a growing imbalance between the number of individuals saving for future healthcare expenses and the rising cost of healthcare in retirement," said Joe DeNoyior, President of HUB RPW. "With HUB HSA Investment Account, we are helping individuals, employers and partners simplify health and financial wellness decisions and drive stronger retirement outcomes."

HUB HSA Investment Account helps clients leverage the unique tax benefits of a Health Savings Account (HSA) to plan for future healthcare expenses, which in turn will help to bridge the retirement healthcare savings gap.

HUB HSA Investment Account works in partnership with HSA Bank, a leader in health savings account administration, services and support. With HSA Bank, the HUB RPW team will provide employers and employees access to a full-service HSA and customized fund lineup.

For more information on HUB HSA Investment Account, click here.

HUB RPW continues to strengthen its services with the addition of talent and resources, such as HUB HSA Investment Account, to develop more comprehensive strategies for clients. HUB RPW works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk and helps employees pursue their financial goals. The several registered investment advisory affiliates in HUB RPW provide investment advisory services to clients whose total assets are approximately $148 billion.

About HUB International

Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 16,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit HUB Media Center.

About HUB Retirement and Private Wealth

HUB Retirement and Private Wealth ("RPW") offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families. Employees of Hub International offer securities through partner Broker Dealers not affiliated with HUB.  Employees of HUB provide advisory services through both affiliated and unaffiliated Registered Investment Advisors (RIA). Global Retirement Partners, LLC, Millennium Advisory Services, Inc, TCG Advisors, Hub Investment Advisors, LLC, HUB International Investment Advisory Services, Inc., are wholly owned subsidiaries of Hub International. Learn more about HUB Retirement and Private Wealth.

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.