HEALTH SAVINGS ACCOUNTS: SECURITY FOR NOW AND LATER
What is an HSA? As more and more employers and employees 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).
An HSA provides a triple-tax advantage: Contributions are tax-free, earnings are tax-free and withdrawals for eligible expenses are tax-free. Accountholders can truly maximize the potential of an HSA by tapping into its investment capabilities. The best part? The portability of the HSA means its balance grows year after year and stays with the accountholder, even in the event of a career change.