Healthcare Costs and Heath Savings Accounts

We at Virtus Wealth Management take pride in offering multiple services through all stages of life, i.e. young adults, established adults, pre-retirees, and retirees.

I would like to discuss a concern retirees have… healthcare costs. Articles have been written and surveys taken expressing retirees have more concern for healthcare costs than running out of money and inflation.

With that in mind, let me suggest for our established adults and pre-retirees health savings accounts (HSA).

An HSA is a tax advantaged medical savings account available to U.S. taxpayers with a high deductible health insurance plan. HSAs allow individuals to pay for current qualified expenses and save for future medical expenses tax-free.

I have personally used an HSA for me and my wife since they initially became available. It has helped pay some health expenses along the way and is now grown to a significant tax-free account available should we need it.

I would recommend checking with your health care provider or calling our office at 817-717-3812 if you would like more information.