Boost Your HSA Savings with These Smart and Savvy Moves
Wednesday is National HSA Awareness Day, highlighting the benefits of Health Savings Accounts (HSAs), which provide a triple tax benefit.
HSAs offer a powerful triple tax benefit on contributions, growth, and withdrawals, but they remain underused as a retirement tool.
According to Fidelity Investments, one in two Americans is unfamiliar with the HSA and its benefits.
- HSAs provide a triple tax benefit.
- They are underutilized as a retirement tool.
- National HSA Awareness Day is on October 15 each year.
"It's drastically underutilized," says Jessica Nino, a financial advisor at Edward Jones. "Anyone currently not on Medicare on a high deductible qualifying plan can have one.”
Author's summary: Utilize HSAs for triple tax benefits.