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

US companies have embraced health savings as an employee benefit in recent years. Many businesses increasingly see HSAs as a target for plan developers — as a health care spending vehicle that allows users to save for health care expenses on a tax-advantaged basis.

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That premise was so good that US consumers now have more than $100 trillion in HSAs, the highest funding point since health savings accounts were introduced in 2003.

“The reason HSAs are so popular and powerful is that they have a triple tax benefit; you get a tax deduction for putting the money in, it grows tax-free, and it comes out tax-free if it’s used for medical expenses,” said Jay Zigmont, founder of Childfree Wealth.

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