Employees need help understanding HSAs, data show

08/21/2013 | National Underwriter Life & Health

Sixty-five percent of respondents to a Fidelity Investments survey did not understand how a health savings account works, and 73% said an HSA works the same as a flexible spending account. Employers that offer HSAs should provide educational materials and support tools as well as onsite and online resources that clearly explain the benefits of HSAs and how they work, Fidelity Investments vice president William Applegate said.

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