Health Savings Accounts are a great way to save money on the healthcare that you need. They are intended to help you manage your medical needs and reduce your healthcare expenses by making you a part of the decisioning process.
If you decide to leave your current place of employment, the money that you saved in the HSA is kept at a part of your retirement account. Through investments, you can also save and develop your account. Just like with an IRA, the funds can rise through the investments made. Not only is an HSA account good for your health expenses, but it is good for your retirement as well!
Before you meet the deductible of your health plan, the money in your HSA account is used to cover any expensed that you incur medically. If you don’t use it all, balanced gain interest yearly. In Flexible Spending Accounts, your funds are surrendered if you don’t use them annually. But that is not the case with the Health Savings Account.