Mon. Feb 6th, 2023

Of course, there is one catch when it comes to HSAs — you can only save in one if you’re enrolled in a high-deductible health insurance plan. Right now, that means having an individual deductible of $1,400 or a family-level deductible of $2,800. These deductible thresholds will remain in place for 2022. However, to qualify for an HSA in 2022, your health plan must also have a maximum out-of-pocket spending limit of $7,050 for individuals or $14,100 for families, which represents an increase from 2021.

It pays to max out an HSA

There’s no getting around medical spending in retirement. Even if you kick off your senior years in excellent health, you’ll still have a world of costs to contend with, from Medicare premiums to deductibles to copays. By maxing out an HSA today, you’ll set yourself up with dedicated funds to cover those bills in the future. And that’s a great way to make your retirement a lot less stressful.

The $16,728 Social Security bonus most retirees completely overlook

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click here to discover how to learn more about these strategies.

By senior