If your employer offers a health savings account as part of your benefits package, now is a great time to take advantage of it. This account has more implications than just your health insurance and is one of the best financial planning tips you can use.

Advantages of HSAs

With an HSA, you can elect to withhold a certain amount from your paycheck every month. Combine that with anything your company contributes, and you could build up a nice savings account of tax-free money to use on medical expenses. This money can build over time and become a significant nest egg. You could contribute up to $6,900 a year if you file a joint tax return.
Make the most of your money and the benefits available to you. Sign up for your company’s HSA as soon as you can.