How HSAs Offer Financial Benefits to Millennials
If you’re a millennial (people ages 23-38) medical costs can be overwhelming, especially when millennials make an average annual salary of $47,034.1 Many of them also have about $28,000 in debt,2 causing nearly half of them to put off seeking medical care because they can’t afford it.3
A great way to offset medical costs and contribute to your overall wealth is with a Health Savings Account (HSA). HSAs are paired with qualified High Deductible Health Plans (HDHPs) and allow you to pay for eligible medical costs. Think of it as a savings account devoted only to medical care that may provide a lifetime of benefits.
Four Benefits of an HSA
Whether you’re in perfect health or someone with underlying health concerns, an HSA offers the financial benefits you need to help take care of future medical costs.
Related HSA Articles
IRS Announces 2021 HSA Limits, HDHP Guidelines
Compliance Updates
1 minute read
The IRS announced the new contribution limits for Health Savings Accounts, and guidelines for HSA-Qualified High Deductible Health Plans for 2021.
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- HSA
- HDHP
- Compliance
Over-the-Counter Items & Menstrual Products Now Eligible for Reimbursement
Compliance Updates
4 minute read
The CARES Act allows over-the-counter drugs and medicines to be reimbursed by FSAs, HRAs, and HSAs without a prescription, as well menstrual products.
4 Ways to Invest in Your Future with Your Tax Refund
General
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If you've benefitted from a tax refund, here are a few ways to invest this money back into your personal and financial health.
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- Retirement
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