A health savings account can be an incredibly powerful tool for tax-advantaged savings but not every health plan includes that option. Is it worth switching your plan for one that allows you to contribute to an HSA?

In the latest episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP®  tackle a listener's question about HSAs and walk you through a few of the things you need to know before you switch plans. With rising health care costs and the complexities of health insurance, understanding HSAs and whether they are the right choice for you is crucial.

Here’s what we discuss in this episode:

0:00 – Today’s question

0:53 – What is an HSA?

2:09 – Qualifying for HSA

3:14 – Something to keep in mind

4:22 – Which health plan is right for you?

6:39 – Investing in HSA

 

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