Learn the surprising benefits of a Health Savings Account (HSA)
1. The high-deductible health plan you need to qualify for a health savings account (HSA) may be more budget-friendly than it seems because premiums are so low.
2. Unlike a flexible spending account, your HSA money is yours forever, and it’s portable.
3. You can contribute to an HSA until you enroll in Medicare, even when you’re not working.
4. Invest your HSA money; don’t just leave it in a savings account.
5. Keep receipts for unreimbursed medical expenses since you can use them to get tax-free funds from your HSA—even years after you incurred the expenses.
Read more from personal finance contributor, Amy Fontinelle, here:
Retirement Uses for your HSA