Young adults prefer short-term work perks over building up health savings

A small new survey of adults ages 18-24 finds they favor short-term work perks such as free food over the longer-term benefits of contributing to a health savings account. Here’s more: 

• The context: People contribute money to an HSA account to help defray the costs of medical expenses if and when they may come up. According to Fidelity Investments and Alegeus, which conducted the survey and offers HSA accounts, the average savings needed for health expenses for a couple in retirement is $280,000.
• Priorities: Half of respondents say medical and dental insurance are the most important work benefits, compared to around 10% who said a 401(k) or vacation days were most essential. 
• Choices: Two-thirds of respondents say they’d rather have flexible work hours than contribute to an HSA. Around 15% would opt for a smoothie bar at work.