Health Care Costs
Health care costs are rising for everyone, but as an older adult, you may face more challenges than the general population. For those worried about their financial future and ability to retire, the prospect of medical care is an additional concern. For instance, aging adults tend to face more chronic conditions and medical problems, leading to higher medical and prescription costs.
Health Savings Accounts (HSAs) are a growing trend and are often promoted as a valuable money-saving option. You may be wondering if an HSA is a smart option for you based on your unique medical circumstances, especially since use of Medicare will make you ineligible for an HSA. Regardless of this, the benefits of an HSA can be substantial for adults nearing retirement age.
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