More Investors Looking at HSA’s as the New 401k – Here’s Why

In recent years, American companies have adopted health savings as a benefit for employees. Many businesses are increasingly viewing HSAs as the plan was intended by the developers—as a health care spending vehicle that allows users to save on health care expenses on a tax-advantaged basis.

Also Read :  How Two Teachers Wiped Out More Than $53,000

That premise sounded so good that American consumers now have more than $100 billion in HSAs, the highest funding point since health savings accounts were introduced in 2003.

“The reason HSAs are so popular and powerful is that they have a triple tax advantage; you get a tax deduction for putting the money in, it grows tax-free and comes out tax-free if it’s used for medical expenses,” said Childfree Wealth founder Jay Zigmont.

Also Read :  How midterm elections impact the stock market



Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button