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Tag Archives: fees investment fees

Investing Your Health Savings Account in the Stock Market

I have had a health savings account eligible insurance plan since they first became available. I love the triple tax advantages of the HSA. Pre-tax or tax deductible contributions   Money grows tax free   No taxes or penalties if money is withdrawn for approved health care spending   You can potentially never pay taxes on this money! Is that a great deal or what? Recently, though, we’ve decided to let our HSA dollars do even more for us. We’ve decided to invest our HSA in the stock market as a great way to improve our finances and here’s why. Low Interest Savings Account Currently our HSA is in a savings account. When we opened that account, I believe it earned 3% interest. Now it earns 0.19%. We made $2.94 in tax free money from our HSA last year. That’s enough to retire on, right? We Don’t Want to Spend Our HSA Money Anymore In past years, we have only put money into our HSA when we had a medical expense. Then we would withdraw it to pay the medical bill. Over the past couple of years, we’ve built up a little money, but not much because we wipe it ...

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