It's already halfway through 2018 and it's becoming increasingly clear that HSAs aren't just reserved for working professionals anymore. Whether you're self-employed or simply looking for a new way to save for retirement, financial advisors and investment brokers have gotten on the HSA bandwagon and sparked enrollment rates for these accounts.

Advisors See HSAs as Opportunity - Caroline Marwitz, Think Advisor

During the 2018 NAPA 401(k) summit in Nashville, one would think 401(k)s would be the central topic of conversation, but Think Advisor reports HSAs are the hottest new investment opportunity embraced by financial advisors and employers alike.

As attendees stated, the central question on the minds of employers was "What is an HSA?" But employers have begun to see how these accounts can benefit employees and their retirement prospects.

According to Empower FCU, only 22% of employees surveyed are even aware that HSAs are tax-free. With only 18% of HSAs being invested nationwide, one of the central messages from the conference was that HSAs mirroring 401(k)s could actually be doing employees a disservice.

Their point? That account holders could be potentially saving too much in their 401(k) — they could be allocating it to the HSA to have a more tax-efficient outcome.

Report finds steady increase in HSA-HDHP enrollees - Jaime Rosenberg, AJMC Managed Markets Network

So, while financial advisors may be all about HSAs these days, that excitement has also carried over to working professionals. A new survey from America's Health Insurance Plans (AHIP), a national political advocacy and trade organization, found the number of consumers who chose an HSA and HDHP increased by 8% between 2016 and 2017.

And it's easy to see why more Americans are embracing these accounts. HSAs provide a "triple-tax benefit," which means that HSA contributions, interest earned and withdrawals for health expenses are not taxed. Additionally, they can be withdrawn when you reach 65 for non-medical expenses (though these withdrawals aren't subject to a tax penalty, you will pay a standard income tax), making them a "no-brainer" for bolstering financial portfolios.

Check back next week for another edition of HSA Headlines, where we cover the latest news affecting your healthcare benefits! And as always, for the latest info about your health and financial wellness, be sure to check out our HSA Learning Center, and follow us on Facebook and Twitter.

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