There’s no doubt that health care costs and insurance premiums continue to increase. The burden of paying for healthcare can weigh heavy on a budget. To help keep costs down many employers and individuals are switching to high deductible health insurance plans.
If you have a high deductible health insurance plan then you may also want to consider a Health Savings Account (HSA).
There are several advantages to purchasing a health savings account:
Tax Savings.
- It allows you to pay for out-of-pocket medical expenses using tax-free dollars.
- Once the money goes into the account, it grows tax-free.
- Money goes in pretax or contributions are tax-deductible.
Your Account Can Build Over Time.
- Unspent funds can stay in your account from year-to-year. No fear of the “use or loose it” factor. You can even invest the money and earn interest on it.
Reference to the tax-free dollars refers to both state & federal taxes.
“He who has health, has hope;
And he who has hope, has everything.”
— Thomas Carlyle
MARKET WATCH
Please click on the link below to view the latest LPL Financial Weekly Market Commentary that provides an overview of the past week's market events and insight into upcoming market events. This weekly publication is authored by Jeffrey Kleintop, CFA®, LPL Financial Chief Market Strategist.
Weekly Market Commentary