TURN YOUR HSA INTO AN INVESTMENT FUND

One of the best-kept secrets about Health Savings Accounts is that they can be used as investment accounts. If you’re covered by an eligible high-deductible health insurance plan, you can contribute up to $3,550 for an individual or $7,100 for a family to an HSA for 2020, reducing your taxable income by that

amount. Of course, HSA withdrawals are tax-free when used to pay for medical expenses. But healthy or wealthy HSA holders should invest and grow the stash tax-free to be used for medical costs in retirement. Fidelity and Fintech 50 member Lively offer investor-friendly HSA platforms. Fidelity offers mutual funds plus commission-free trading of U.S. stocks and ETFs. Lively provides no-fee access to TD Ameritrade,

which also offers free online trading. —A.E.