HSAs: Your Secret 401(k) Power Booster

Health Savings Accounts are a good way to set money aside and are typically offered to those with a high-deductible health insurance policy. The contributions made are deductible just like payments made into a 401(k) however withdrawals are tax free. According to HSACenter.com some other great benefits include using the account to meet your deductible; you are able to compound money over time, the money belongs to you, not your employer, so you are able to take it with you when you leave; and there is flexibility with the account.
The best way to utilize the account is to cover what you can with money outside of the account since the money accumulates. If you choose this option through your employer you can opt to have payments made automatically. Though, you can also choose a policy outside of your employment.

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HSAs: Your Secret 401(k) Power Booster

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HealthStatus has been operating since 1998 providing the best interactive health tools on the Internet, millions of visitors have used our blood alcohol, body fat and calories burned calculators. The HealthStatus editorial team has continued that commitment to excellence by providing our visitors with easy to understand high quality health content for many years. Our team of health professionals, and researchers use peer reviewed studies as source elements in our articles. Our high quality content has been featured in a number of leading websites, USA Today, the Chicago Tribune, Live Strong, GQ, and many more.

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Written by HealthStatus Team
Medical Writer & Editor

HealthStatus has been operating since 1998 providing the best interactive health tools on the Internet, millions of visitors have used our blood alcohol, body fat and calories burned calculators. The HealthStatus editorial team has continued that commitment to excellence by providing our visitors with easy to understand high quality health content for many years. Our team of health professionals, and researchers use peer reviewed studies as source elements in our articles. Our high quality content has been featured in a number of leading websites, USA Today, the Chicago Tribune, Live Strong, GQ, and many more.

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