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

US companies have embraced health savings as a benefit for employees in recent years. Many businesses are increasingly looking at HSAs as plan developers were intended — as health care spending vehicles that allow consumers to save for health care expenses on a tax-advantaged basis.

Also Read :  Biden says his economic plan is working, adding prices 'remain too high'

That premise sounds so good that US consumers now have more than $100 billion held in HSAs, representing the highest funding point since health savings accounts launched in 2003.

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

Also Read :  ACT Foundation announces grant opportunities for Innovators and nonprofits serving in Health, Entrepreneurship, Environment, and Leadership


Leave a Reply

Your email address will not be published.

Related Articles

Back to top button