English
Arabic
Chinese (Simplified)
Dutch
Esperanto
French
German
Greek
Italian
Japanese
Korean
Portuguese
Russian
Spanish
UrduMost older adults are not using tax-advantaged savings accounts to save for future health expenses, a new poll of people age 50 to 80 suggests, and those who do are more likely to have high incomes and education levels, and to be in good health and under Medicare eligibility age.
Tag: Health Savings Accounts
Health savings accounts often overlooked as a financial strategy for building personal wealth
Many experts have praised health savings accounts – commonly known as HSAs – for providing a triple tax break. Money is deposited pretax, can grow tax-free and is not taxed when it is spent, as long you as the expenses are eligible. During the pandemic, they have become an important way to save for unexpected healthcare costs. But for those graduating from college and beginning a new career, health savings accounts also can be the first key to accumulating wealth, according to a new article by Greg Geisler, clinical professor of accounting in the Indiana University Kelley School of Business.
Many medical “rainy day” accounts aren’t getting opened or filled, study finds
One-third of the people who could benefit from a special type of savings account to cushion the blow of their health plan deductible aren’t doing so, according to a new study. And even among people who do open a health savings account (HSA), half haven’t put any money into it in the past year.