Millennials: Here’s what to consider before you dive into a health savings account

From CNBC:

Financial advisors say picking a high-deductible health plan with a health savings account can be a smart way to save for retirement (and future health-care costs).

The high-deductible plan premiums are less expensive, and the associated health savings account has a triple tax advantage: Contributions are either pretax or tax-deductible, typically grow tax-free and can be withdrawn without incurring taxes when used toward qualified medical expenses.

“There’s a huge opportunity if you’re putting away a few thousand dollars a year in your 20s and 30s, what that can grow to,” said certified financial planner Sophia Bera, founder of Gen Y Planning.

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