Health Savings Accounts: The Triple Tax Treat
What is a Health Savings Account?
A Health Savings Account (HSA) can best be described as a personal savings account where the money can be used only for qualified medical expenses. This investment account, created by the Medicare Act in 2003, provides people with a convenient way to save for any unexpected future medical costs they might encounter. Notice that I said investment account. That means contributions do not need to be kept in cash; they can be invested into the stock market and thus have potential organic appreciation. Read More
—Brant Jones, CFP®