HSA Savers May Be Missing Out On This Huge Opportunity
Healthcare can be a major expense, especially during retirement. So it's important to set money aside for it consistently.
That's where health savings accounts (HSAs) come in. With an HSA, you can contribute money for near-term or far-off healthcare expenses. Unlike flexible spending accounts, which require you to spend down your plan balance year after year, HSA funds don't come with an expiration date. You can put money into an HSA in your 20s and carry that money all the way into retirement -- which is something it definitely pays to do, since chances are, medical bills will be more of a burden during your senior years than they are during your working years.
But HSAs offer one important feature that many savers may not be taking advantage of. And that's a big mistake.
Source Fool.com
