Are you familiar with Health Savings Accounts, or HSAs? They're often discussed in the context of healthcare plans, but did you know that there are some surprising benefits to having an HSA? Here are a few you might not have considered:
First and foremost, HSAs can be a great way to save money on healthcare expenses. Contributions to an HSA are tax-deductible, and any funds you withdraw for qualified medical expenses are tax-free. Plus, unlike Flexible Spending Accounts (FSAs), any unused funds in an HSA roll over from year to year, so you can build up a significant balance over time.
But that's not all. HSAs can also be a valuable tool for retirement planning. Once you turn 65, you can withdraw funds from your HSA for any purpose without penalty (although you will still have to pay income tax on non-medical withdrawals). That means that if you contribute to your HSA consistently over the years, you could end up with a significant nest egg for your retirement.
Finally, having an HSA can give you greater control over your healthcare choices. Because you are using your own funds to pay for medical expenses, you may be more inclined to shop around for the best prices and quality of care. Additionally, many HSAs come with tools and resources to help you make informed healthcare decisions.
If you're not already enrolled in an HSA, now is a great time to consider it. At Every Health Group, we offer self-enrollment for $0. That's right, it won't cost you anything to set up an HSA with us. And the benefits could be significant – not just for your healthcare expenses, but for your overall financial well-being.
So why not take the first step and enroll today? Visit www.everyhealthgroup.com/selfenrollment to get started.