The primary purpose of an HSA is to enjoy some tax savings in the course of saving for healthcare expenses. An HSA isn't a retirement plan in the same sense that an IRA or 401(k) plan is because you can take a withdrawal at age 25, 35, or 45 to pay for medical costs. With an IRA or 401(k), there are penalties for touching your money before age 59 1/2.

But actually, retirement is the perfect time to have access to an HSA. So if you're able to fund one of these accounts during your working years and reserve most or all of that money for retirement, you'll likely end up thankful for it. That's because you might get to enjoy these valuable benefits.

Image source: Getty Images.

Continue reading

Source Fool.com