Health Savings Accounts are an excellent way to build a second retirement account. A health savings account is a tax free medical saving account. Health savings accounts are always associated with high deductible health plans (HDHP). With a high deductible health plan, your annual deductibles are high but the monthly premiums are low. The health savings account make it possible to set money aside and then use it whenever needed for your medical expenses.
Health savings accounts can be a great option for some people. Coupled with the right high deductible insurance policy, a health savings plan can be the perfect medical insurance solution for those seeking lower premium costs without sacrificing adequate health insurance coverage. The fact that with a health savings account you can invest your contributions tax-free makes a health savings account an almost perfect solution.
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