<#-- Rebranding: Header Logo--> <#-- Rebranding: Footer Logo-->
  1. What is an HSA?
  2. How to Qualify to Contribute to an HSA
  3. How Much Should You Contribute to an HSA?
  4. How and When to Use Your HSA Funds
  5. HSAs, FSAs and Limited-Purpose FSAs
  6. HSA Strategies for Different Life Stages
  7. Using Your HSA as a Retirement Savings Tool
  8. The Bottom Line

If you can afford to take a chance on a higher health insurance deductible, an HSA can help you keep your medical costs down. If you suspect, by choosing a high-deductible health plan, that your finances or your temperament will prevent you from going to the doctor because you want to save money, the HDHP/HSA combo might not be right for you because it could cause your health to suffer. It could also cause you to delay seeking treatment, allowing a problem that was small and easily treatable to turn into a large problem that’s difficult and costly to manage.

Having an HDHP can discourage you from making the potentially unnecessary doctor visits that you might otherwise make if you had a low deductible that you’d already met. That’s an acceptable way to control healthcare costs. But sacrificing your health is not.

Your first goal should be to pick the health insurance plan that will get you the best care for your budget. If an HSA is compatible with that plan, then you can look forward to potentially lowering your healthcare costs and saving more for retirement. (Still need help deciding whether an HSA is right for you? Read Pros and Cons of a Health Savings Account (HSA).)


Related Articles
  1. Insurance

    Saving Your Health Savings Account for Retirement

    Use the following strategies to get the most out of your HSA in retirement.
  2. Retirement

    Health-y Savings Accounts

    Health savings accounts (HSAs) can provide a great way to save for retirement and medical expenses.
  3. Financial Advisor

    IRS Sets 2016 HSA Deduction Limits

    Contribution limits for HSA plans have increased slightly for 2016. Here's a breakdown of what they are and how they work.
  4. Insurance

    Health Savings Accounts: What You Need to Know

    The the popularity of Health Savings Accounts is on the rise. Here's how they work.
  5. Financial Advisor

    How to Use Health Savings Accounts for Retirement

    For tax-savvy, retirement-minded investors, HSAs can represent a tremendous long-term planning opportunity. Here's how to use them as investment vehicles.
  6. Taxes

    Savings and Tax Strategies Missed by Physicians

    Doctors and others often don't take complete advantage of health savings accounts and 401(k)s.
Trading Center