HSA Balances Are Soaring. Here's Why It Pays to Save in One
It's not a secret that healthcare is a major expense for both workers and retirees alike. But during your senior years, the cost of medical care could skyrocket.
HealthView Services projects that the average healthy 65-year-old couple who retired last year can expect to spend a whopping $662,156 on healthcare costs throughout retirement. That number accounts for out-of-pocket Medicare expenses and projected healthcare inflation of 5.9% a year.
It's for this reason that it's so important to set money aside specifically for healthcare in retirement. And one account is becoming more popular in that regard.
Source Fool.com