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In a YouTube video, personal finance expert Tae Kim of Financial Tortoise likened a health savings account (HSA) to the ultimate retirement account. You can access this triple-tax-advantaged ...
A health savings account (HSA) is a tax-advantaged account designed to help you save for future medical costs. If you have access to this type of account, it's a good idea to make the most of the ...
A health savings account (HSA) is a tax-advantaged medical savings account available to U.S. taxpayers enrolled in a high-deductible health plan (HDHP). The primary purpose of an HSA is to assist ...
Funds in a health savings account can be invested in a manner similar to investments in an Individual Retirement Account (IRA). Investment earnings are sheltered from taxation until the money is withdrawn and can be sheltered even then, as discussed in the section below. Investments in a health savings account can be directed by the individual.
Invest Your HSA Funds Since most individuals and families are unlikely to use all their HSA money on medical costs in their early years, it makes sense to invest the cash so it can grow, tax-free.
Remember that this money is first intended to help with the costs you’ll pay because of your high-deductible health plan, so taking on too much risk with your investments could mean that the ...
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