June 18, 2021

Health Savings Accounts (HSA) - A Powerful Tool for Health Care Costs and Mental Wellbeing: An Interview with Begonya Klumb of Fidelity Investments

31 minutes

Health care costs are a growing concern for many people. But there's one under-utilized tool that can really help and that is a Health Savings Account or HSA. In this episode, I spoke with Begonya Klumb, the Head of HSAs for Fidelity Investments to discuss everything you need to know about HSAs. Learn what it really is, the common myths and misconceptions about it, the advantages of having an HSA, how it can support your mental wellbeing, and how to open an account today.

“HSA has this triple tax advantage in the sense that the money that you put into the account is tax-free, the money that you withdraw from the account is tax-free and the money that is in the account grows also tax-free.” - Begonya Klumb

What You Will Learn From This Episode

What is a Health Savings Account (HSA) and the advantages of using it
Current definition of a qualified high-deductible health plan or HSA eligible health plan
How you can get an HSA through Fidelity Investments as a retail investor
How an HSA can support your mental and financial wellbeing
Debunking common myths and breaking the stigma around HSAs
Things you can do to take advantage of HSA’s triple tax benefit
What to consider when saving for medical expenses and investments
HSA funds cover long-term care insurance premiums for your future
How to open an HSA account today

About Begonya Klumb:

Begonya Klumb is the Head of HSAs for Fidelity Investments, where she manages the HSA business with almost $7 billion in assets in more than 1.5 million health savings accounts. Prior to joining Fidelity in 2018, Begonya was the CEO of UMB Healthcare Services, a division of UMB Bank, and grew it to more than $2 billion in assets, more than 1 million health savings accounts, and more than 5.3 million benefit cards. Prior to this position, she held positions at UMB Financial Corporation as Executive Vice President and Chief Strategy Officer, Director of Financial Planning & Analysis, Director of Mergers & Acquisitions, and Director of Corporate Strategy and Investor Relations. Resource Fidelity Investment - HSA

Connect with Begonya Twitter - Fidelity

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By Melanie Lockert

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