6. HSA

  • What is it? An investment account for your healthcare needs that offers tax-free savings, tax-free growth, and tax-free use. You can only use one if you opt into a high deductible health insurance plan from your employer.
  • Is it for me? If you and your family are in good health and have generally low medical expenses each year.
  • How much can I contribute? $3,600 if your single, $7,200 per family.
  • Does my employer contribute? Most employers contribute around $600 per individual per year or $1,200 per family per year.
  • You can take it with you! The money in your HSA account is always yours to use for medical expenses, even if you change employers. Unlike a flexibile savings account, you don’t have to use it within a given year.
  • Did you know?
    • 4%-8% | average anual earnings on HSA accounts
    • $22,620 | amount you earn on $10,000 @ 6% interest over 20 years
  • Why? Because staying healthy can slim your waistline and fatten your wallet.
  • More info: Health savings accounts: Is an HSA right for you?

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