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Money and Finances
Reply to "High Deductible Health Insurance Plan"
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[quote=Anonymous]The best part is the health savings account, which, if you save and don't spend the money in the account, can be another vehicle for retirement savings. And it's "triple tax advantaged" 1. Contributions go into the HSA tax-free. If you make contributions through payroll deductions, they are also not subject to Social Security or Medicare taxes. 2. You can invest that money and enjoy tax-free growth potential. 3. Withdrawals for qualified health expenses don’t incur taxes. DH and I are in our late 50's, and we have >$200,000 if our HSA.[/quote]
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