Health Savings Accounts
By Hightower St. Louis on April 18, 2023
Imagine having to decide to see the doctor or be stressed from the potential medical burden of seeing the doctor. How about using a tool that could help cover some of those medical costs?
Enter a Health Savings Account (HSA). If you are on a high deductible healthcare plan, you will have access to this account. You can save money pre-tax to fund medical expenses. Another great feature of the HSA – you can invest the money and let is grow tax-free. It’s a triple tax-free account.
How do I use my HSA? My family puts the maximum amount we can into our HSA. All of our funds are invested for long-term growth to use for medical expenses in retirement. All medical expenses during the year, we try to pay with our current cash flow. The best part though is if we run into any large, unexpected medical expenses – the HSA is there ready to pay.
You can’t put a price on our health, but we know healthcare can be expensive. A Heath Savings Plan can help protect now but take advantage of the wonderful tax benefits that come from investing your contributions.
Have questions? Reach out, happy to talk.
Zach Ungerott, CPWA®, CFP®
Senior Wealth Advisor
Hightower Wealth Advisors | St. Louis is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC, member FINRA and SIPC. Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC. All information referenced herein is from sources believed to be reliable. Hightower Wealth Advisors | St. Louis and Hightower Advisors, LLC have not independently verified the accuracy or completeness of the information contained in this document. Hightower Wealth Advisors | St. Louis and Hightower Advisors, LLC or any of its affiliates make no representations or warranties, express or implied, as to the accuracy or completeness of the information or for statements or errors or omissions, or results obtained from the use of this information. Hightower Wealth Advisors | St. Louis and Hightower Advisors, LLC or any of its affiliates assume no liability for any action made or taken in reliance on or relating in any way to the information. This document and the materials contained herein were created for informational purposes only; the opinions expressed are solely those of the author(s), and do not represent those of Hightower Advisors, LLC or any of its affiliates. Hightower Wealth Advisors | St. Louis and Hightower Advisors, LLC or any of its affiliates do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax or legal advice. Clients are urged to consult their tax and/or legal advisor for related questions.
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