AUSTIN, Texas, Dec. 23, 2015 /PRNewswire/ -- 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
- Your 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