Data and Research August 25, 2015

Investment Options in HSAs Improve Savings Potential

Balances in HSAs that leverage 401(k)-like investments are six times larger than those without them.
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At the end of 2014, account balances in health savings accounts (HSAs) with investments averaged $10,261, or about six times the average $1,709 balance in HSAs without investments, according to the Employee Benefit Research Institute (EBRI).

In 2014, 6.4% of accounts in the EBRI HSA Database of 2.9 million HSAs had used the investment option portion of the account. Forty-seven percent of the HSAs with investments were opened between 2005 and 2008, compared with 8% of HSAs without investments. Among HSA owners with investments, the average age was 48.5 in 2014, compared with 43 among HSA owners without investments.

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Individuals contributed an average of $2,636 to HSAs with investments and $1,224 to HSAs without investments. Annual distributions for health care claims from HSAs with investments averaged $1,777 in 2014, and $1,293 from HSAs without investments.

“HSAs often have an investment account option that allows account owners to invest in not just a money market account, but in mutual funds and other investment vehicles much like they would in a 401(k) plan,” explains Paul Fronstein, director of EBRI’s Health Research and Education Program and author of the report. “Some HSA owners may use the investment account option as a means to increase savings for retirement, while others may be using it for shorter-term investing.”

In fact, EBRI issued another report on HSAs late last year that found, depending on the deferral rates and rate of return realized, an individual who saves in an HSA for 10 years could accumulate between $35,000 and $68,000, while those saving for 20 years could accumulate between $118,000 and $193,000.

EBRI’s full report can be downloaded here.

Break from the Grind August 25, 2015

Adolescent Actions Common in the Workplace

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Does the office sometimes remind you of high school, or even elementary school? Surveys by CareerBuilder suggest adolescent behaviors in the workplace are common.

More than three-quarters (77%) of employees surveyed said they have witnessed some type of childish behavior among colleagues. More than half (55%) have seen whining, and 46% said colleagues have pouted over something that didn’t go their way.

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Other juvenile behaviors witnessed by employees included:

  • Tattling on a coworker – 44%;
  • Playing a prank on a coworker – 36%;
  • Making a face behind someone’s back – 35%;
  • Forming a clique – 32%;
  • Starting a rumor about a coworker – 30%;
  • Storming out of the room – 29%;
  • Throwing a tantrum – 27%; and
  • Refusing to share resources with others – 23%.

Specific immature behaviors included:

  • Company owner threw tantrums, yelled and slammed doors when he didn’t get his way;
  • Employee hid to get away from duties and work responsibility;
  • Employee intentionally set up a coworker to get him/her in trouble;
  • Employee ate other employees’ food from the company refrigerator;
  • Employee blocked parking spots to prevent other employees from parking closer to the front door;
  • Employee gossiped about all of his direct reports then pretended to be their advocate;
  • Employee constantly pulled up inappropriate content on her cell phone and showed it to her “clique”; and
  • Employee went to lunch and never came back.
NEXT: Adolescent behavior hurts chances of being promoted.

A survey among employers found that certain juvenile behaviors can have a negative impact on an employee's chances of being promoted.

A majority of employers (62%) said they are less likely to promote employees who have a negative or pessimistic attitude (whining, pouting, etc.). More than half (51%) consider vulgar language to be an indication that an employee is not ready for promotion.

Forty-four percent said they would think twice before moving an employee who participates in office gossip up the ranks. Employees who do not clean up after themselves can hurt their chances for a promotion, according to 36% of employers.

The surveys were conducted online within the U.S. by Harris Poll on behalf of CareerBuilder among 2,532 hiring and human resource (HR) managers ages 18 and older (employed full-time, not self-employed) and 3,039 employees ages 18 and older (employed full-time, not self-employed, non-government) between May 14 and June 3.

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