No HSA? This Retirement Plan Gives You 2 Out of 3 of Its Tax Benefits.
There's a reason HSAs, or health savings accounts, are often touted as one of the best savings plans out there. They're the only plan to offer three different tax breaks.
With an HSA, contributions go in on a pre-tax basis, allowing you to shield some income from the IRS. HSA funds that aren't withdrawn immediately can be invested for added growth, and those gains are tax-free. HSA withdrawals are also tax-free when used to cover qualifying medical expenses.
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Source Fool.com