Tiered Health Savings
Health Savings Accounts (HSAs) are an option for those who have high deductible health care plans. Much like a Money Market Account, this account is tiered meaning the higher the balance, the higher the dividends gained. However, this account has no minimum balance and may earn dividends with a balance under $2,500. A benefit of an HSA is the ability to accumulate interest tax-free so long as purchases from the account are for qualifying health expenses.
- Aids in planning for future medical costs
- No minimum balance
- Can earn tax-free dividends with qualifying medical expenses