59% of Health Savings Account Participants Are Missing Out on This Important Retirement Strategy

Opening a health savings account, or HSA, not only saves you money on taxes, but also helps ensure that you have funds set aside to cover medical expenses. Specifically, only 41% are using their HSA to save for healthcare expenses in retirement, which means 59% of savers may be missing out on a huge wealth-building opportunity. The money you contribute goes in tax-free, withdrawals are tax-free as long as they're used for qualified medical expenses, and the money you don't use immediately can be invested, at which point gains are tax-free.