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In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss ten advantages to a Health Savings Account (HSA) and why you need to know them. A Health Savings Account is a valuable medical and long-term retirement planning tool with more than just tax benefits.

Listen in to learn how to let your HSA contributions grow and invest the money over time for future use as an asset. You will also learn the different ways you can control when and how you want to spend your money on different qualified medical expenses.

In this episode, find out:

• HAS\\u2019s tax advantages \\u2013 contributions are tax deductible and can be done at your tax filing.
• Triple tax savings \\u2013 understanding three tax benefits you get from HSA.
• Lower healthcare cost \\u2013 the advantage of a high deductible plan with an HSA.
• Affordable and long-term savings \\u2013 how your HSA contributions can accumulate and grow for future use.
• Investment opportunities \\u2013 how some HSA accounts allow investment in the money markets.
• A retirement savings plan with the ability to grow a bucket for future medical expenses.
• Flexibility and control \\u2013 ways you can control when and how you want to spend your money on different qualified medical expenses.
• Pretax contributions to payroll deductions \\u2013 this makes savings easier and smooth.
• There\\u2019s no use it or lose it rule \\u2013 HSA is similar to IRA, where you don\\u2019t lose money if you don\\u2019t use it.
• Retirement savings vehicle \\u2013 let your HSA bucket grow and invest over time to use it as an asset.
• Control over your healthcare decisions \\u2013 you get to make choices on what and how you spend on medical expenses.

Tweetable Quotes:

• \\u201cIf you\\u2019re someone who doesn\\u2019t go to the doctor often or is relatively healthy, a high deductible plan with an HSA could make a lot of sense because you lower your premiums and cost of actual medical insurance.\\u201d - Murs Tariq
• \\u201cThere\\u2019s a wide range of what you can use your HSA money for when it comes to medical expenses.\\u201d- Radon Stancil  

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.