As befuddling, frustrating and financially taxing as it can be for consumers to navigate the world of healthcare coverage and benefits, the Affordable Care Act (ACA) era also has given Americans a uniquely versatile and potentially very valuable tool.
It’s called the health savings account, a highly tax-favored vehicle that, when paired with a high-deductible health plan (HDHP), can be used not only as an account from which to pay for a wide range of near-term medical expenses, but also as a place in which to invest money that may grow over time, for use later, whether for medical/healthcare expenses or otherwise.
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FPA - Connect
