How Health Savings Accounts Can Aid Your Retirement Planning Though their name advertises a principal purpose, Health Savings Accounts can also be used to strengthen your retirement planning — thanks to their unique tax benefits and flexible withdrawal rules. Unlike other tax-favored accounts, HSAs offer the potential for a uniquely beneficial double-whammy: tax-free contributions and tax-free withdrawals — provided those withdrawals are used for health expenses. During your working years, withdrawals that aren’t used for health expenses are generally subject to ordinary income tax, plus a whopping 20% penalty tax. However, once you hit age 65, the penalty disappears, which means you… — Continue at ZeroHedge News : Read More
