When Choosing a Retirement Account, Go With Superman
Not all retirement accounts are equal. Some are like Aquaman and some are like Superman. For most folks, your Superman and Wonder Woman are the Roth IRA and the HSA. Both offer tax-free growth and both offer some liquidity provisions so you can access your money before you reach 59½. Do everything you can to fund these superheroes each year. They will help make sure you are flying in your retirement years.
Health savings accounts are a resource used by approximately 19.7 million Americans who have a high-deductible health insurance plan in 2015. Whether you have access to one through your employer or are covered by one on your own, there are many benefits to these accounts. HSAs help cover the out-of-pocket medical expenses. To do so, you must establish and fund the account. Funding also takes advantage of the tax-deferred nature of HSAs.
HSAs can be a smart financial tool. But they’re also potentially complex. For better or for worse, the responsibility is on the employee to make sure he or she stays within the rules of the game. For some this is empowering. For others, it’s intimidating. Whether you’ve already got an HSA or are considering it, take a look at these 10 potentially weird, possibly little-known FAQs about HSAs.
Why Aren't You Shopping for Lower Prescription Drug Prices?
Most people don't shop for lower prescription drug prices. They should, especially now that there are easier ways to do so. More than a dozen websites and apps are vying to help U.S. consumers find the lowest prices for prescription drugs by comparing prices and searching for deals, similar to the way Expedia looks for cheap airfare or Bankrate.com looks for low mortgage rates.
Almost No One in the U.S. Does Everything Right, Healthwise
Studies show it doesn't take much to help prevent heart disease, cancer and other chronic diseases. The Centers for Disease Control and Prevention identifies just five that give people the best bang for their buck when it comes to preventing disease. Most people manage two or three of them, but only 6.3 percent could say they got all five.