Both HSAs and FSAs allow you to save for medical expenses by using pretax money to pay for qualified medical costs. But while they are similar in some ways, each offers unique features and benefits. Let’s examine some of the most significant differences.
Over the years, health savings accounts have become increasingly popular. Here’s what’s this year’s changes will mean for you.
Investing in your Health Savings Account (HSA) can vastly improve your tax standing while simultaneously adding to your net worth.
First, the bad news. According to a recent report from Fidelity Investments, a 65-year-old opposite-gender couple who retires today can expect to spend on average $300,000 on healthcare costs in retirement.
Employer-paid 100% healthcare coverage sounds like a good deal, and it largely is. But there are more efficient ways to achieve the same outcomes.
Health Savings Accounts (HSAs) are a popular benefit that employers can offer to help their employees save and pay for qualified medical expenses. But an HSA can also act as highly effective wealth-building tool due to their unique — and powerful — tax benefits.
According to some estimates, today’s retirees will need at least $200,000 to pay for healthcare in retirement, and that figure is only expected to continue climbing. Health Savings Accounts (HSAs) are one way to build stability and peace of mind when considering these long-term costs.
For many employees, work from home has been a positive change in their lives, allowing them to spend more time with their families and generally raising their quality of life. But what does this mean for their benefits?
This should come as no surprise, but a recent survey by the Society for Human Resources Management found that employers expected healthcare premium costs to rise about 5% next year.
Americans are spending far more than they are saving in their HSAs, and the average user is spending half of it on regular doctor’s visits. Are they doing it wrong?
