HSA as the Next 401(k)?
Many are familiar with the projections from Fidelity and HealthView Services: retirement healthcare costs are eye popping. A healthy 65 year-old couple retiring this year can expect over $250,000 in healthcare premiums, deductibles, co-pays and other qualified costs according to the experts.
This sobering news is slowly making its way into the mainstream. Financial advisors, tax preparers and other professionals who advise individuals and families on how to plan their retirement savings are starting to deliver the message to their clients: get ahead of retirement health expenses by investing through your Health Savings Account.
More on the potential role of HSAs in retirement planning and overall financial planning here:
About HSA Coach. After Morningstar purchased our last startup we built a digital platform, HSA Coach. We started with the goal of educating users on Health Savings Accounts, as well as helping them incorporate HSA’s into their broader investment portfolio. We have since added personalized calculators to make contribution estimates, explain the tax benefits and allow users to allocate between their HSA and employer sponsored retirement plan, like a 401(k). More coming. Available for free in the App Store and Google Play.
