The solution is scheduled to launch in early 2020 and will be available to T. Rowe Price plan sponsor clients who offer a High Deductible Health Plan (HDHP).
| BALTIMORE, Dec. 18, 2019 /PRNewswire/ -- T. Rowe Price Retirement Plan Services, Inc. has announced today that it will offer integration of ConnectYourCare’s health savings account (HSA) into its retirement plan offering. ConnectYourCare, a national provider of consumer directed health care solutions, will serve as the product administrator and custodian. The solution is scheduled to launch in early 2020 and will be available to T. Rowe Price plan sponsor clients who offer a High Deductible Health Plan (HDHP). The HSA solution will be offered within T. Rowe Price’s retirement savings plan recordkeeping platform, giving eligible participants the ability to view and manage their retirement and health savings accounts holistically. The integrated experience, available on both web and mobile, will help participants get a clear understanding of their individual savings circumstances, allowing them to better strategize and prepare for their needs today and in retirement. The solution will also include planning tools and resources, including a future enhancement that will give participants the ability to calculate retirement income inclusive of HSA balances. Plan sponsors who sign up for the new solution will have access to negotiated pricing, aggregate account balance reporting, and the ability to help employees maximize savings through direct access to a wide range of investment funds, including T. Rowe Price no-load, low-expense ratio funds.i QUOTES Kevin Collins, head of Retirement Plan Services, T. Rowe Price: “We are pleased to partner with ConnectYourCare to provide a platform that offers flexibility, ease of integration, and a robust client experience that provides individuals a holistic view of their retirement and health savings. The cost of health care in retirement is a top concern for many individuals, so having this side-by-side view of their retirement and health savings accounts can help them manage and prepare for these costs effectively. We are committed to providing our clients with a range of services that encourage positive financial behaviors and look forward to launching this solution as well as other financial wellness enhancements we have slated for the coming months.” Steve Grieco, Chief Executive Officer, ConnectYourCare: “As a leading health savings account provider, our utmost priority is to provide a comprehensive solution that results in increased adoption, higher satisfaction, and better overall value. We are delighted to work with T. Rowe Price and look forward to providing their clients with an innovative HSA solution that offers simplicity and convenience in managing health and wealth.” ABOUT HEALTH SAVINGS ACCOUNTS ABOUT T. ROWE PRICE RETIREMENT PLAN SERVICES, INC. ABOUT T. ROWE PRICE ABOUT CONNECTYOURCARE Trusted by leading organizations, spanning all industries and sizes, we are making it easier for people to manage care, so they can enjoy life. For more information, visit ConnectYourCare.com. T. Rowe Price is not affiliated with ConnectYourCare. i Source: Lipper Inc. 183 of 223 funds (excluding institutional and bank institutional funds as defined by Lipper) more than 6 months old had expense ratios below their Lipper averages based on fiscal year-end data available as of 9/30/19. Download a prospectus or obtain one by calling 1-800-541-8803. The prospectus includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.
SOURCE T. Rowe Price Group, Inc. |
View original content:
