Reach Your Health Savings Account Goal

Reach Your Health Savings Account Goal

You should be saving money in an IRA or 401k to help fund your retirement years. You can also use a Health Savings Account (HSA) to boost retirement savings earmarked to cover medical expenses in retirement. Health savings accounts are not technically retirement plans, but you can make pre-tax contributions and the money deposited in your HSA will grow tax-free. Moreover, unlike Flexible Spending Accounts, you can roll over your HSA funds from one year to the next, and into retirement. You can also withdraw HSA funds at any time to pay for current qualified medical expenses. So, as you grow your HSA account balance to meet your retirement needs, you'll want to consider those current medical expenses in your planning.

Insurance products are not deposits or other obligations of, or guaranteed by the bank, or an affiliate of the bank. Insurance products are not insured by the FDIC, or any other agency of the United States, the bank, or any affiliate of the bank. Insurance products may involve investment risk, including the possible loss of value.
Insurance products are offered through Bangor Insurance, a division of Bangor Savings Bank.