A health savings account (HSA) can be a powerful tool for just about anyone. The flexibility of HSAs makes them appealing for a wide range of users, but that same flexibility can make explaining these accounts a challenge. No two people have identical health benefit needs, and each employee will use an HSA differently.

For example, an employee who is young and single has different concerns than someone with a family at home. Both individuals will prioritize things differently than someone approaching retirement, or someone with a chronic health condition.

There are numerous ways to approach managing an HSA for individuals, but any strategy will ultimately be influenced by things like income level, health needs, and long-term financial goals.

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