More Investors Looking at HSAs as a Way to Save for Retirement

U.S. companies have begun to embrace health savings as a benefit to employees in recent years. Many companies are increasingly looking to HSAs as plan builders designed to provide for health care expenses that allow users to save on health care expenses through tax benefits.

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That premise sounded so good that US consumers now have more than $100 billion in HSAs, the highest funding point since health savings accounts were introduced in 2003.

“The reason HSAs are so popular and powerful is that they have a triple tax advantage; you get a tax deduction for investing the money, it grows tax-free, and it’s released tax-free if it’s used for medical expenses,” said Jay Zygmont, founder of Childfree Wealth.

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