4 HSA Mistakes to Avoid in 2020
Contributing to a health savings account, or HSA, is a great way to not only lower your taxes, but also help ensure that you have the money to cover near-term and long-term healthcare costs. But if you mismanage that account, it won't serve you very well. Here are a few key HSA mistakes to avoid in the coming year.
One of the things that makes HSAs so great is that they're an extremely flexible savings tool. Unlike flexible spending accounts, the money you put in doesn't have to be used up from year to year. Rather, you can carry funds forward indefinitely, all the while investing them for added growth.
In fact, doing so is the best way to make the most of your HSA, so if you've been contributing just enough to cover your near-term healthcare needs, consider putting more money into your account this year.
Source Fool.com
