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How a Health Savings Account Can Save Your Retirement

using HSA for retirementToday I’m guest posting at Vosa.com about on of my favorite topics, health savings accounts!

Health care has been in the news quite a bit over the past year. With all the big changes happening with the Affordable Care Act in the US, you’d have to be hiding under a rock not to know that almost everyone is now required to have some sort of insurance coverage. For many, the costs have risen dramatically. What if I told you there was a way to save thousands, possibly hundreds of thousands of dollars, on health care over the next 25 years? With a fully funded health savings account, that’s a definite possibility.

What is An HSA Account and How Do I Get One?

A health savings account or HSA is an account you set up to cover deductibles and medical expenses in conjunction with a high deductible health plan. In order to have an HSA you only need to meet the following criteria.

-Enroll in a qualified high deductible health plan. Minimum deductible amounts for 2014 are $1250 for singles and $2500 for families. Just because your plan has a high deductible doesn’t  mean it is HSA compliant. Check with your insurance company if you aren’t sure. You also can’t be on Medicare or covered on another insurance policy.

Read more about my favorite topic at Vosa.com

About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.


  1. I like it a lot. It’s a way to have insurance and feel like I’m contributing toward retirement at the same time (if I have a year where I don’t burn through everything I set aside, also Vosa is blocked here for some reason)

  2. Thanks for the very insightful post about HSA’s and retirement!

  3. This is a very good topic Kim. A health savings account or HSA is very important, we should be ready especially when dealing with our health.

  4. An HSA is a great way to save pre-tax money if your employer allows it. I always max mine out. but do not be afraid to use it. If you have a legitimate expense, and you actually paid the money out of pocket. GET REIMBURSED. Otherwise you are paying after tax money for medical expenses. Get reimbursed, and put your after tax money in an IRA if you want.

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