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HSA Headlines - 11/2/2018 - Long-running election stories and HSA newcomers
With the runaway growth of HSAs throughout the U.S. and increasing numbers of people realizing their retirement potential, the consumer healthcare industry is rapidly changing to meet the demand of new HSA users.
But with all that change comes uncertainty, as the midterm elections on November 6 (go vote!) could shuffle a new party to power to set an entirely new healthcare agenda that could directly impact HSAs. Here's what should be on your radar as we move closer to the end of 2018!
Nationwide aims for slice of $54B HSA market - Allison Bell, ThinkAdvisor
You probably know Nationwide for their Sunday afternoon saturation of the airwaves with Peyton Manning commercials, but the insurance giant is now wading into the health savings account (HSA) market for the first time in a major endorsement of the growth of these accounts nationwide.
Starting in 2019, Nationwide will offer its very first HSA program, and it will partner with third-party administrator HealthEquity to administer these accounts. This will be the first time a major insurer will put the full strength of its marketing behind HSAs, so Peyton going to bat for HSAs may not be too far away. HSAs have grown steadily in recent years in enrollment and total assets, so it will be interesting to see how a large insurer entering the market will affect these numbers.
Healthcare companies pour $46.7 million into midterm vote - Blake Dodge, Bloomberg
The coming midterm elections have dominated the news cycle over the past month, and if you needed anymore proof that healthcare is going to be a banner issue on November 6, look no further than the ad spending healthcare companies are pouring into the races nationwide.
According to the Center for Responsive Politics, a research firm in Washington D.C., healthcare political action committees (PACs), will donate $46.7 million to Democratic and Republican causes.
All told, this looks like it will be the most expensive midterm election in our nation's history. The Center for Responsive Politics estimates that $5 billion is expected to be spent by candidates, parties, PACs and outside groups, which illustrates just how vital the future policy decisions will be for the healthcare industry at large.
HSA Headlines is a weekly roundup of the latest, most relevant news and conversations about your health savings. It appears every Friday, exclusively on the HSA Learning Center. And for more about your physical and financial well-being, be sure to follow us on Facebook and Twitter.