How Health Savings Accounts Can Support Retirement Savings

When planning for retirement, it is easy to focus on the fun parts like travel or hobbies, but one of the biggest expenses many people face is healthcare.

Costs continue to rise, and one estimate suggeststhat individualsmay need over $170,000 for medical expenses inretirement.¹

That is where a Health Savings Account, or HSA, can playan important role.

What makes Health Savings Accounts so valuable

Health Savings Accounts offer a way to save for both current and future medical expenses.

Here are a few key benefits:

This combination is often referred to as a “triple tax advantage,” whichmakeHSAs a powerful savings tool.

Another important feature is flexibility. Any unused funds roll over each year, so you do not lose what you do not spend. Overtime, this helpsbuild a dedicated savings pool for healthcare costs.

Download the Advantages of a HSA

How an HSA works alongside your retirement plan

An HSA is not a replacement for your 401(k), but it can complement it.Your 401(k) is designed to help cover everyday living expenses in retirement.On the other hand,an HSAcan help you prepare for healthcare costs both now and in the future.

Together, they can support a more complete approach to saving.

Larmann Financial

7424 Jager Court
Cincinnati, OH 45230