Health Savings Account Potential

This is a news story, published by Yahoo Finance, that relates primarily to HSA news.

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health savings accounts

Yahoo Finance

•

Business

Business & Economics

How to save $1 million: Use your Health Savings Account

Summary

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80% Informative

A new report says you can save $1 million in a health savings account by retirement.

An HSA benefits from a triple tax advantage.

It's the only account that lets you put money in on a tax-free basis, and lets it build up tax free.

In the real world, most account holders pull funds from their HSAs to cover current medical bills.

EBRI estimates a 65-year-old man enrolled in a Medigap plan will need to save $ 184,000 to have a high chance of having enough to cover premiums and prescription drug expenditures.

You can contribute for 2024 up to this year ’s tax filing deadline, which is April 15 .

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informal

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English

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