First Merchants Bank encourages all customers to double-check their retirement and employee benefit plans following the IRS’s 2023 Cost of Living Adjustments. These adjustments affect maximum contribution levels and dollar limitations for benefits and retirement accounts like your 401K, Health Savings Account, and Annual Compensation Limits, among others.

U.S. equities surged to their highest weekly gains in months in a very eventful week marked by midterm elections and a well-received October inflation report.

You have a Health Savings Account (HSA), and even contribute to it regularly – but did you know that, in addition to providing security for medical expenses, an HSA can also be part of a healthy retirement strategy?

Now that you know all about Health Savings Plans and how they benefit you, you may be wondering, “What’s the difference between an HSA and a traditional health plan? Should I choose an HSA or a PPO?”

After a sharp rally in equity markets in October, November started off on more rocky footing last week as the Federal Reserve hiked rates by 0.75% and made it clear that the central bank will not be pivoting from its hawkish stance near-term. Federal Reserve Chair Powell set the tone when he warned that the ultimate level of interest rates will be higher than expected, and markets responded by pushing up peak short-term interest rate expectations above 5% for next year.