The Best HSA Plans for Spending
Spending your HSA on current medical costs? Two plans stand out.
As we mentioned in an article last week, we recently released our 2018 Health Savings Account Landscape Report, which evaluates and ranks 10 of the largest HSA plans available to individuals assuming two distinct use cases: HSAs as a spending vehicle to cover current medical costs, and HSAs as an investment vehicle to save for future medical expenses. The HSA spending account is typically used by individuals with high healthcare costs who lack the means to pay out of pocket. HSAs represent an attractive vehicle to cover medical costs because the contributions and withdrawals skip out on federal income tax (plus the small amount of interest earned in the checking account isn’t taxed).