Investing in a health savings account comes with a triple tax advantage, making it an attractive way to save for health-related costs in retirement
Health savings accounts are only available to people enrolled in high-deductible health plans. For 2023, those are plans with a minimum deductible — the amount you pay out-of-pocket for medical expenses before your insurance kicks in — of $1,500 for individuals or $3,000 for families.
Any money you put in an HSA lowers your taxable income and can be used to cover medical expenses. In that regard, it may sounds similar to a flexible spending account — a benefit offered by many employers with more traditional insurance coverage. But the HSA comes with some extra benefits. You're also allowed to invest your HSA money in stocks, bonds, exchange-traded funds and mutual funds."If you can save a couple thousand dollars a year and have that
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