The Overlooked Account That Could Supercharge Your Retirement Savings

Core Insights - Health Savings Accounts (HSAs) provide significant tax benefits that can enhance retirement savings, making them a valuable financial tool for individuals planning for retirement [2][3]. Tax Benefits of HSAs - HSAs offer a triple-tax advantage: contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualifying medical expenses are tax-free [4][6]. - Contributions for 2025 are capped at $8,550 for family coverage and $4,300 for self-coverage, with increases for 2026 to $8,750 and $4,400 respectively. Individuals aged 55 and older can contribute an additional $1,000 [5]. Comparison with Other Retirement Accounts - After age 65, HSAs can provide greater tax benefits compared to 401(k)s and IRAs, particularly for those looking to supplement retirement savings [7].