It’s late November, and that means the holiday season is coming at full speed. At this time of year, life can feel busier than ever, but Thanksgiving Day gives us a chance to stop for a moment of reflection. While you are considering all that you are grateful for this Thanksgiving, don’t forget your health savings account (HSA)!
For anyone enrolled in a high-deductible health plan (HDHP), HSA funds provide a way to offset health care costs. This savings account rolls over year to year by allowing you to set aside tax-free dollars from your earnings to pay for eligible health-related products and services. What makes HSAs special is that they function like a 401(k) for your health, meaning you can use it as a tax-free savings account, invest the money to help it grow, and cover health care costs at any time, even in retirement.
This is only the tip of the iceberg in terms of benefits your HSA offers, so these are our top five reasons to be thankful for your HSA!