One of the most asked questions we hear centers around the HSA.It’s also one of the largest missed opportunities for tax savings we see people are missing, if they are eligible. Health Savings Accounts, known also as HSA, are gaining more and more popularity. But there is still a lot of confusion on how this account is different.Join us this week, as we break down the ins and outs of all you need to know about how an HSA can benefit you and your family. We address why so many are still not using these accounts to their full capacity. Also, we break down how the HSA provides triple tax savings, or the hat trick as Mike likes to call it. What is an HSA and why do I need one? How do you know if you are eligible for one? Why people confuse the HSA and the FSA? The incredible benefit within an HSA that only 4% of people are taking advantage of. Why the beneficiary matters on your Health Savings Account. 4 out of 5 HSA accounts have been opened since 2011. 7.3 million people who are enrolled in HSA-eligible plans haven’t opened an HSA. Only 48% of those with an HSA contributed to it. Related: Missing Opportunities to Be as Tax Efficient as Possible in 2017 Why a Health Savings Account May Be Your Best Retirement Account Vanguard – HSA’s: An off-label prescription for retirement saving Episode 42 – How to Navigate Open Enrollment Morningstar – Guide to Health Savings Accounts HSA vs. FSA Know the Difference IRAHelp.com – What You Should Know Before You Name an HSA Beneficiary Employee Benefit Research Institue – Stats on Health Savings Accounts
