HSAs – Your Secret 401(k) Power Booster

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Health Savings Accounts (HSAs) are a way to allow you to save extra retirement money.  The way HSAs function, they allow a person to save tax-free money in a separate account for medical-related expenses that are not covered by a health plan.  HSA contributions are deductible like a 401(k) contribution, and the reason HSAs are supplemental is because a person can hold onto the money within the account for as long as they like.

Here are some more listed reasons as to why HSAs are beneficial to have:

  1. The use of HSAs savings to meet deductibles
  2. Growing money tax-deferred
  3. The ability to take the money when leaving an employer
  4. The flexibility of HSAs