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stylized faux HSA card green colored with bandaid on it (Photo: Shutterstock)

One incentive for enrolling in a high-deductible health plan is the ability to contribute to a Health Savings Account (HSA), which is often seen as a way to offset the higher out-of-pocket expenses that come with the plan. An HSA can be a valuable savings tool for employees enrolled in this option, but it can also have even more potential value as a retirement savings vehicle.

However, although HSAs provide a variety of benefits for employees, they are in need of more education on how best to utilize this tool for long-term savings. That’s according to a whitepaper detailing results from a survey by Optum Bank and Empower Retirement.

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Heather Nevitt

Heather D. Nevitt is the Editor-in-Chief of Corporate Counsel and Global Leaders in Law.

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