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2021 Wellness & Wealth Report

Lively · May 18, 2021 · 3 min read

wellness & wealth report

It was an abnormal year for healthcare, but even with massive fluctuations in care and access, the top benefits concerns for most Americans remain the same - cost and savings. Healthcare costs are the largest area of both spend and saving after basic livelihood costs. And what is not a surprise is that COVID-19 has had an increased adverse impact on financial well-being and outlook.

Half of Americans Skipping Preventative Care

The short-term financial impact of COVID-19 has been swift and damaging to many Americans. We know that COVID-19 has increased the retirement gap, and new data shows the extent of this impact: 60% of Americans withdrew funds from their IRA or 401(k) in 2020. An additional 27% borrowed against their 401(k) during COVID-19. A staggering 41% of these account holders did so to pay medical expenses.

Wellness & Wealth Report Inline

Key findings of Lively’s 2021 Wellness & Wealth Report show:

#1: Rising medical costs are forcing Americans to evaluate their financial futures.

  • Nearly one-third of Americans are worried about short-term healthcare costs, and overall, Americans expect to spend 40 percent of their retirement savings on healthcare alone.

  • Due to cost, nearly half of all adults surveyed have delayed or skipped medications, and have not followed a doctor’s recommendations over concerns for how much additional care may cost.

  • Only 60 percent have enough money saved for a medical emergency this year. Younger Americans, especially those aged 25-34, expressed that COVID-19 has impacted financial goals this year and long-term.

#2: Americans are showing a greater understanding of healthcare and benefits.

  • The majority understand terms like insurance co-pay (84 percent), insurance deductible (80 percent) and insurance out-of-pocket expense (80 percent).

  • This was an increase from 62% in 2019 (somewhat or completely understood). The increase can likely be attributed to the focus on healthcare from the pandemic.

#3: Healthcare is top-of-mind when planning for future employment: Next to salary, healthcare coverage is the most important benefit offering for employees.

  • Healthcare coverage is a strong factor in employee retention, with 20 percent ranking it as the #1 benefit for staying at a job while 16 percent saying it is the #1 reason for switching jobs (compared to 22 percent and 28 percent for salary, respectively).

  • HSAs are viewed as a key healthcare benefit, equally important for personal finance, healthcare and retirement financial planning and savings.

A clear requirement for employers is to address financial concerns head on—it's in everyone's best interest. Financial stress has a direct and real impact on employee productivity. The most important step is to ensure healthcare benefits bundles address a range of coverage and long-term financial concerns. Employers will come out on top by positioning their existing benefits to better address these concerns. This means introducing savings options like an HSA before health plan selection.

2021 Wellness & Wealth Report


Lively is the modern HSA experience built for—and by—those seeking stability in the ever-shifting healthcare landscape. By harnessing modern innovation and deep industry expertise, Lively is committed to bridging today’s savings with tomorrow’s unknowns. Unlike traditional institutions hindered by bureaucracy, Lively’s commitment extends beyond initial set up to providing dedicated, ongoing support and education for every step. So each HSA can reach its maximum potential with minimal headache.

piggy bank on pink background


2024 and 2025 HSA Maximum Contribution Limits

Lively · May 9, 2024 · 3 min read

On May 9, 2024 the Internal Revenue Service announced the HSA contribution limits for 2025. For 2025 HSA-eligible account holders are allowed to contribute: $4,300 for individual coverage and $8,500 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.

comparing hsa versus fsa


What is the Difference Between a Flexible Spending Account and a Health Savings Account?

Lauren Hargrave · February 9, 2024 · 12 min read

A Health Savings Account (HSA) and Healthcare Flexible Spending Account (FSA) provide up to 30% savings on out-of-pocket healthcare expenses. That’s good news. Except you can’t contribute to an HSA and Healthcare FSA at the same time. So what if your employer offers both benefits? How do you choose which account type is best for you? Let’s explore the advantages of each to help you decide which wins in HSA vs FSA.

Benefits of HSA employer matching

Health Savings Accounts

Ways Health Savings Account Matching Benefits Employers

Lauren Hargrave · October 13, 2023 · 7 min read

Employers need employees to adopt and engage with their benefits and one way to encourage employees to adopt and contribute to (i.e. engage with) an HSA, is for employers to match employees’ contributions.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.



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