HSAs

More working Americans have a health savings account, but many are not using them to their fullest potential.

Financial planners and advisors must ensure that their clients have the necessary funds to meet whatever health challenges advancing age may bring.

Thanks to the Affordable Care Act, single, non-dependent children are able to fund their own HSAs with the full family maximum contribution limit.

From COBRA premiums to long-term care, there are surprising uses for funds in these tax-advantaged accounts.

Some cash-strapped clients with high medical costs could really benefit from making this move.

The Internal Revenue Service issued its annual inflation adjustment Wednesday for health savings accounts for 2021, at a time when many taxpayers are worried about their health in the midst of the novel coronavirus pandemic.

The majority of U.S. workers do not have enough savings to help them in the event of a medical emergency and often turn to their retirement funds for help.

For starters, they can use the windfall to pay off debt, shore up their HSAs and build a cash reserve.

From Roth conversions to QHFDs: The coronavirus pandemic is forcing difficult questions, and clients rightfully are looking for answers that advisors are uniquely suited to provide.

Aside from refinancing, retirees are advised to consider downsizing their homes to reduce overall spending.