Why the HSA is a Hidden Gem

<p><span style="font-weight: 400;">What is a health savings account (HSA), and why are so few people utilizing it? The HSA is one of the best tax shelters that exists to build wealth.&nbsp;&nbsp;&nbsp;</span></p> <p><span style="font-weight: 400;">In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks about how the HSA works, how to decide if it is a good fit for you, and ways to manage an HSA to maximize its efficiency.&nbsp;&nbsp;&nbsp;</span></p> <p><strong>Topics Discussed:</strong><span style="font-weight: 400;">&nbsp;</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Two Groups of People:&nbsp;</span></li> <ul> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Those who don&rsquo;t use HSA at all</span></li> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Those who do, but don&rsquo;t maximize its efficiency</span></li> </ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">What is the HSA? Access to an account via a qualified health insurance plan</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">What is a qualified health insurance plan? Separate part of plan to use HSA&nbsp;</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Why is the HSA a great way to build wealth?</span></li> <ul> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Rollover balance</span></li> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Invest those dollars&nbsp;</span></li> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Offers tax benefits</span></li> </ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Decision-making Factors:&nbsp;</span></li> <ul> <li style="font-weight: 400;" aria-level="2"><span style="font-weight: 400;">Low utilization of healthcare insurance</span></li>