How HSAs Can Help You Hack Healthcare

December 21, 2015

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Ellen Bartling

Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high-deductible healthcare plans could use tax-free assets and investments to pay for medical expenses. In other words, HSAs give smart consumers a chance to hack the increasingly complex and expensive healthcare services industry.
 
What are the benefits of having an HSA?
  • You can save 30% or more on your healthcare costs
  • You build a healthcare nest egg that’s yours to keep – even if you change jobs
  • You’re investment grows tax free
  • You can save your HSA funds in an FDIC-insured savings account, or choose to invest in a diverse range of mutual funds
  • If you don’t use the money for medical expenses, you can spend it on a taxable basis for retirement or any other purpose after age 65

Infographic – Hacking the Finances of Healthcare V2