How to use an HSA as a retirement savings tool

Description

Abstract: There is a wide range of plans to help save for retirement. But one type of plan is ideally suited to serve a dual purpose: a Health Savings Account (HSA), which is a tax-advantaged strategy for those covered by high-deductible health plans to save money for medical expenses. As this article discusses, the key aspect of HSAs that could allow saving for retirement is the fact that unused HSA funds roll over from one year to the next. This can result in a sizable balance that could help supplement other retirement savings accounts. But there are some potential tax consequences.