Navigating the Potential Pitfalls of Health Savings Accounts (HSAs)
Friday, 3 May 2024, 12:00
Hidden Costs of Health Savings Accounts (HSA)
Health savings accounts are essential financial tools for managing healthcare expenses. However, consumers need to be cautious of potential fees that can erode their savings over time. The Consumer Financial Protection Bureau highlights key factors to consider when utilizing HSAs.
When Not to Worry
- Annual Fees
- Inactivity Fees
- Investment Fees
Costs to Watch Out For
- Transaction Fees
- Excess Contribution Penalties
- Administrative Fees
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.