Health savings accounts can keep retirement plans in shape

For healthier retirement savings, it can pay to stash cash in a health savings account.

HSAs have been gaining in popularity in recent years. At the end of 2014, consumers kept $24.2 billion across 13.4 million HSAs, according to a 2015 report from Employee Benefits Research Institute (EBRI). Nearly 4 in 5 of those accounts were opened after 2010.

Originally meant to help workers cover medical expenses in high-deductible health plans, HSAs have become a smart consideration for retirement savings, too, said Pam O’Rourke, senior vice president and senior counsel at Integrated Retirement Initiatives, speaking to financial advisors Friday at the TD Ameritrade National LINC conference in Orlando.

HSAs are especially attractive as an extra tax-advantage retirement account for highly compensated workers who are already maxing out their workplace retirement accounts. And it could be even more attractive than an IRA for more typical consumers. For the full article click here 

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