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 intended by plan developers — as a health care expense vehicle that allows consumers to save for health care expenses on a tax-advantaged basis.

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Since health savings accounts were launched in 2003, US consumers now have over $100 billion in HSAs, which is pretty good.

“HSAs are so popular and powerful because they have a triple tax benefit; You get a tax deduction for putting money in, it grows tax-free and it comes out tax-free if used for medical expenses,” said Jay Zygmont, founder of ChildFree Wealth.

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