Introducing the Nationwide® HSA, administered by HealthEquity®

70% of Americans cannot accurately estimate how much they expect to pay for health care in retirement.1

Of those who try to estimate, 61% don’t have a plan or are unsure of how to save the amount they need1. That could run as high as $325,0002.

The less your employees know about their options to achieve retirement readiness, the less informed their decisions may be. For example:3

  • 63% are worried about how health care costs may derail their plans for retirement1
  • 72% say health care costs going out of control is one of their top retirement concerns1
  • 52% know what their out-of-pocket health care costs may be outside of Medicare1

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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.

Retirement

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 financial professional or administrator to discuss how an HSA can be a part of a comprehensive employee benefits plan.

[1] The Nationwide Retirement Institute Health Care Cost in Retirement Survey (October 2022). The consumer survey was conducted online by The Harris Poll from August 26  – September 8, 2022, among 1,140 U.S. adults age 18 or older.

[2] "A Bit of Good News During the Pandemic: Medicare Beneficiaries Need for Health Expenses Decrease in 2020," EBRI Issue Brief (May 28, 2020)

[3] 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 professional 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 professional for these services.