Introducing the Nationwide® HSA, administered by HealthEquity®

80% of Americans cannot accurately estimate how much they expect to pay for health care in retirement.1

In fact, the average retiree spends $4,300 on out-of-pocket healthcare expenses each year,2 but throughout their retirement, a couple may spend as much as $399,000 on such expenses.3

The less your employees know about their options to achieve retirement readiness, the less informed their decisions may be. For example:4

  • 60% are worried about how health care costs may derail their plans for retirement1
  • 73% say health care costs going out of control is one of their top retirement concerns1
  • 56% are concerned they will not have enough money to cover unplanned medical expenses1

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Reduce health benefit costs

Health savings accounts (HSAs) offer special tax treatment that make them an especially desirable way to save for current health care expenses – and the ones that will crop up in retirement.

For employers, Nationwide’s health and wealth package offers a solution that can help reduce FICA taxes, as there are no Social Security and Medicare taxes on payroll deposits to participants’ HSAs.

The Nationwide HSA is carrier-neutral, so if you switch health insurance providers, your HSA program remains intact.

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Help employees secure a path to healthy retirement readiness

When you add the Nationwide® HSA, administered by HealthEquity®, you'll be offering a package that combines two long-term solutions into one streamlined savings experience. Plan sponsors get resources designed to:

  • Educate participants about how to plan for and benefit from the triple tax advantages of HSAs*
  • Give participants a holistic view of their retirement savings needs
  • Build confidence in planning for current and future medical bills

Nationwide’s health and wealth package enables participants to better understand their needs and take more effective steps toward achieving retirement readiness.

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Contact your advisor or administrator to discuss how an HSA can be a part of a comprehensive employee benefits plan.

[1] "Health Care and Long-Term Care Consumer Survey," conducted by Harris Poll on behalf of the Nationwide Retirement Institute (2018). The fourth annual survey was conducted online within the United States from Feb. 5 though 22, 2018, among 1,007 adults ages 50 and older who have a household income of $150,000 or more ("affluent adults"), and 522 adults ages 50 and older who are or have been caregivers.

[2] “How much does out-of-pocket medical spending eat away at retirement income,” Center for Retirement Research at Boston College (October 2017).

[3] “Savings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $400,000, Up From $370,000 in 2017,” Employee Benefit Research Institute (October 2018).

[4] Participants must be enrolled in a High-Deductible Health Plan (HDHP) to contribute to an HSA.

*HSAs are not taxed at a federal income tax level when used appropriately for qualified medical expenses. Most states, but not all, recognize HSA funds as tax-free. Please consult a tax advisor regarding your state's specific rules.

HealthEquity Inc. is an IRS-authorized nonbank custodian of health savings accounts (HSAs). Nationwide and HealthEquity are separate and nonaffiliated companies.

The Nationwide Guaranteed Interest Account is an unregistered group fixed annuity which is issued by, and any guarantees are subject to the claims-paying ability of, Nationwide Life Insurance Company, Columbus, OH.

Nationwide plan representatives are Registered Representatives of Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. Nationwide Retirement Institute® is a division of NISC. Nationwide representatives cannot offer investment, legal or tax advice. Contact your advisor for these services.