by Katherine Restrepo
Director of Health Care Policy, John Locke Foundation
More and more Americans are transitioning to pairing high deductible health plans with a Health Savings Account (HSA). According to America’s Health Insurance Plans (AHIP), almost 20 million policyholders are enrolled in these tax-preferred accounts when it comes to setting aside funds for medical expenses in the near future and for retirement. Below are just a few of the many benefits HSAs bring to consumers:
For more information, check out today’s Wall Street Journal on the importance of HSAs and why they shouldn’t be overlooked when saving for retirement. If possible, take advantage of the annual maximum contribution, since they become prohibited once eligible for Medicare!