Health Savings Accounts (HSAs) are the only accounts that allow you to take a tax deduction, pay no taxes on earnings, and access your money at any time without worrying about taxes or penalties, as long as it's for a qualified medical expense. It's the trifecta. Healthcare expenses are inevitable at some point, so having an HSA lets you put away money you'd be spending anyways and get a tax break while doing it.

Since the money in your HSA can be invested, there's a chance it can experience some pretty good growth (or that's the goal at least), leading some people to wonder if they can become HSA millionaires. As with investing in general, the two things someone needs to reach millionaire status are time and consistency. Let's imagine someone with a family healthcare plan contributed $600 to an HSA -- which is below the annual limit for 2022 -- for 30 years, averaging 10% yearly returns. At the end of those 30 years, they would've accumulated over $1.18 million.

While it feels weird criticizing $1 million because that's a wonderful accomplishment, having that much money in your HSA might be unnecessary and potentially counterproductive.

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Source Fool.com