HEALTH SAVINGS ACCOUNTS: SECURITY FOR NOW AND LATER
As more and more employers make the switch to a High-Deductible Health Plan (HDHP), the Health Savings Account (HSA) continues to rise in popularity. It's an account that puts employees in control, allowing them to save on healthcare expenses and build a nest egg for retirement, much like a 401(k).
HSAs offer a triple-tax advantage: Contributions are tax-free, earnings are tax-free and withdrawals for eligible expenses are tax-free. In addition to the extraordinary savings potential, HSAs offer investment capabilities to help accountholders truly maximize the account's potential. The best part? The portability of the HSA means the account's balance continues to grow year after year and travels with the accountholder, even in the event of a career change.