More Investors Looking at HSA’s as the New 401k – Here’s Why

US companies have come to accept health savings as a benefit for employees in recent years. Many businesses are increasingly seeing HSAs as intended by plan developers — as a health care spending vehicle that allows users to save for health care expenses in a tax-advantaged manner.

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This premise was so sound that US consumers now have more than $100 billion in HSAs, representing the highest funding since health savings accounts were introduced in 2003.

“The reason HSAs are so popular and powerful is because they have triple tax advantages; You get a tax deduction for keeping the money, it’s tax-free and it’s tax-free when used for medical expenses,” says Jay Zygmont, founder of ChildFree Wealth.

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