In one way or another, we are all bracing for a recession after two consecutive quarters of  decline in economic activity. While the impact of a recession can be far-reaching, for those with and supporting health savings accounts (HSAs), there might be a glimmer of hope. Let's see how HSAs provide a recession-resistant benefits approach for individuals, employers and brokers/consultants.

Participating employees & individuals–What to know?

A focus on essential care. During a recession, individuals are more likely to put off non-essential medical care. Rather than planning to build their HSA balance for the future, they may use it to ensure they are saving for the known expenses that are unavoidable. By paying for their medical expenses with HSA dollars on a tax-free basis, individuals save an estimated $30 for every $100 in expenses.