Americans are spending down their Health Savings Account

The average Health Savings Account balance was $2,803 in 2018 according to data from the Employee Benefit Research Institute; however, the average American with an HSA spends almost 96 percent of their annual contributions on qualified medical expenses.  The report shows the average American is using their HSA in almost the same way they would a flexible spending account, as a result they are losing out on potential long-term tax and savings benefits. Read article here…

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