health savings account.©Rob Goebel – stock.adobe.com
December marks a historic milestone: It has been 20 years since the creation of health savings accounts (HSAs). Over the last two decades, HSAs have evolved into becoming a core component of benefits offerings that gives employees advantageous tax perks as well as another avenue to invest and pay for medical expenses during retirement. According to calculations based off Devenir's annual HSA report, over 90 million Americans today benefit from HSAs helping them better manage health care and retirement expenses resulting in $10 billion in additional buying power annually and reducing their income tax burden by a collective $15 billion a year.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
