5 Steps to Investing Your Health Savings Account

How much does the government want consumers to use health savings accounts to pay for healthcare expenses?

So much that it has made the HSA the only triple-tax-advantaged vehicle in the whole tax code: you contribute dollars on a pretax basis, your money compounds on a tax-free basis, and withdrawals for qualified healthcare expenses are also tax-free. After age 65, HSA funds can be used for non-healthcare-related expenses, though withdrawals for expenditures other than healthcare will be taxable.

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Written By: Christine Benz

Published By: www.morningstar.com

April 23, 2018 In: Current Affairs, Financial Articles Comments (None)