Women are not only saving less for retirement than men, but are also putting fewer dollars into their health savings accounts and health reimbursement arrangements as well, according to the most recent research by the Employee Benefit Research Institute (EBRI).
EBRI’s research found that men had a higher average account balance of $1,525 in their HSA or HRA in 2010, compared to women’s balance of $1,321. HSAs and HRAs are accounts that can be used to pay for medical expenses. EBRI reported men may have more money in their accounts because they use less health care than women. On average, men also earn more than women.
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