Unless you have been living under a rock this week, you know two things. First, open enrollment has arrived for the individual healthcare marketplace (aka Obamacare). Second, and not surprising, healthcare premiums have gotten more expensive, in some cases much more. Without getting into the politics of it all, we want to show you, what you can do today to make healthcare costs less expensive so you can save the most money.

Save Money on Qualified Out-of-Pocket Medical Expenses

The most obvious (and utilized) feature of the HSA are the triple tax advantages. These include tax-free contributions, tax-free earnings, and tax-free spending (as long as it’s for qualified out-of-pocket medical expenses). This key component lets you use an HSA to save money on qualified out-of-pocket medical expenses that come from expenses on top of your Obamacare premiums. It is the most actionable and direct way to save money and combat the rising premium costs that are part of open enrollment in 2018.

Save for Next Year (and Years to Come)

We are all faced with the same healthcare situation increased costs year over year. Wouldn’t it be great to break this cycle? Unlike an FSA, which has a “use it or lose it” provision, you can save HSA funds this year and use them for years to come. You can also invest your HSA funds, to help them grow and establish a meaningful health savings nest egg for both expected and unexpected costs. You can open an HSA anytime, not just during open enrollment, as long as you have a qualifying high deductible health plan (HDHP).

Take Action!

The most important aspect of the HSA is that you can take action today. You can plan your health savings for this year and years to come. In such a stringent and unpredictable healthcare market, HSAs offer a clear path to health savings and increased financial stability. HSAs are on track to be larger than 401ks, so if your friends and family aren’t talking about HSAs this year, they sure will be next. Let us help you get ahead of the curve and create health savings.

If you need more help with health account decisions, check out our blog. We will make you a healthcare benefits expert in no time, without any extra work or effort on your end.