With the deadline looming for Americans to file their income tax returns, this is as good a time as ever to reflect on the multiple merits of a health savings account.
There were nearly 36 million HSAs last year, which was up from 32 million in 2022. More than $16 billion were held in these HSAs, helping people pay for healthcare expenses tax free. Unfortunately, research shows that only 27% of consumers grasp that HSAs can be used as investment vehicles. There is plenty that benefit advisers can do to close the gaping knowledge hole, starting with education.
