Social Security Report

The Ultimate in Retirement Savings Isn’t Social Security. It’s an HSA! - AMAC & Kiplinger

Kevin Webb of Kiplinger states that health savings accounts (HSAs) are the best deal out there for anyone saving not just for health expenses, but for retirement as well. The accounts are available for people who are covered by a high-deductible health insurance plan. There are contribution limits set each year, but HSAs have no income limits on who can contribute. HSAs offer these triple-tax benefits: tax deductions on contributions, tax-deferred growth, and tax-free withdrawals if used for qualified medical costs. With Social Security providing a mere 40% replacement of pre-retirement income, read more here in Webb’s full length article about how HSAs can be an invaluable retirement tool.

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