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While the amount you can contribute each year to an HSA is lower than that of 401(k)s and IRAs, it still gives a nice boost to your retirement planning. Catch-up contributions are also available ...
However, there’s yet another type of account to consider: the health savings account (HSA). ... Retirement Savings: 6 Ways an HSA Could Be More Beneficial Than a 401(k) or IRA. Show comments.
That being said, a health savings account is meant for health-related expenses. So, it shouldn’t replace your 401(k), IRA, or other dedicated retirement accounts.
There is a variety of tools that can help you save for retirement. While many of us know about 401(k)s and IRAs, not as many may be familiar with health savings accounts (HSAs). These are savings ...
An HSA is technically not a retirement savings plan like a 401(k) or IRA. That's because you can take an HSA withdrawal at any time to cover qualified healthcare expenses.
While health savings accounts can be rolled over from fund to fund, a health savings account cannot be rolled into an Individual Retirement Account or a 401(k) retirement plan, and funds from such investment vehicles cannot be rolled into health savings account, except for the one-time Individual Retirement Account transfer mentioned earlier ...