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

American companies have embraced health savings as a benefit for employees in recent years. Many businesses view HSAs as intended by plan developers—as a health care spending vehicle that allows users to save for health care expenses on a tax-advantaged basis.

That premise has held up so well that American consumers now have more than $100 billion in HSAs, representing the highest funding point since health savings accounts were rolled out in 2003.

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“The reason HSAs are so popular and powerful is that they have a triple tax advantage; you get a tax deduction when you keep the money, it’s tax-free and it’s tax-free when you use it for medical expenses,” said Jay Zygmont, founder of ChildFree Wealth.

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