... Another Valuable Retirement Savings Plan Tool
Are you eligible to open a health savings account (“HSA”)? If yes, and you have not already opened one, you should consider doing so as this type of account is another tax-advantaged way to save for any medical expenses you will likely have in retirement.
An HSA is a tax exempt account that can be used to pay for medical expenses you or your family may incur. There are three key tax benefits to having an HSA. First, the money going into an HSA is pre-tax (if coming directly from your employer) or tax-deductible (if coming directly from you). Second, any interest, dividends, or other earnings inside your HSA are tax free.