February 13, 2018 | By Logan Butler

For employees enrolled in a high-deductible health plan (HDHP), health savings accounts (HSAs) can be a real game-changer.

One on level, HSAs allow for the contribution of pre-tax dollars to pay for qualified health care expenses throughout the year, providing a cost-effective way for employees to manage their out-of-pocket responsibilities.

And on another level, HSAs are a powerful long-term savings vehicle, due to the fact that all funds can roll over from year to year and accumulate tax-free interest. They can essentially act like a 401(k) plan to save for health care costs in retirement, with the added benefit that withdrawals are tax-free – for qualified medical expenses – at any time.