Health Savings Account (hsa): How Do I Invest It?
|
The Health Savings Account (HSA) is an amazing tool that a lot of people have been talking about. It is meant to help you save money on insurance and make your life simpler, maybe even help you be healthier.
A Health Savings Account is an investment. You may not have thought of it that way, but it is.
When you open your HSA, your insurance agent or financial advisor will ask you "How do you want to invest this?"
Your answer to that question might mean the difference between having money for that emergency operation or not having it.
There isn't room here for a big explanation of investing principles, but I can tell you that there are volatile investments and stable investments.
A volatile investment would be putting money into a fast-moving stock on the stock market. One day it's up, the next day it takes a dive.
The most stable investment is a bank account. You get paid a certain interest rate and that's that. No volatility. And not much benefit either, because the interest rate will be quite small.
My recommendation to you is to invest your HSA money into a bond mutual fund. Bonds are a special type of investment that are less risky than stocks, but more beneficial than a bank account.
By investing in a bond mutual fund, you'll have a steady rate of growth with no big up's or down's. Some months your investment might go down a little, but it won't be dramatic. And, over time, you'll beat that bank account interest by several percentage point.
Bond mutual funds are your best option for HSA investment. Ask your HSA custodian if they offer this type of investment for their HSA. If they don't, shop around until you find one who does.
If you cannot find someone offering a bond mutual fund, then stick with a money market account. That is your second-best choice. You want something very stable, because you never know when you'll have to tap into that money. Healthcare emergencies don't give us advance notice, do they?
Health Savings Accounts will change how we think of healthcare. They are the key to fixing the current healthcare crisis in America, and they will help your small business, self-employment or individual healthcare situation.
Daryl Kulak is the author of the book "Health Insurance Off the Grid - A Wonderful Way to Use Alternative Medicine and Save Money on Insurance Using the New Health Savings Account (HSA)." The book is available for sale as an e-Book or paperback at the Website http://www.healthoffthegrid.com
|
|
|
Term Life Insurance Help
Life insurance can be a very scary thing. If you buy insurance when you're 30, but don't die until you're 90, chances are you're going to come out on the loosing end of insurance. ...(related: Insurance)
Facts About Renters Insurance
If you rent an apartment or house, you might consider purchasing renters insurance.Renters insurance provides coverage for damage or loss of personal property for people in rental housing. It's to insure the renter's belongings from theft or damage. In addition, renters insurance also provides liability coverage for people in rental housing if somebody is injured while in the rental ...(related: Insurance)
Discount Auto Insurance
Whether you are looking for car insurance in Canada, the USA, or somewhere else, finding discount auto insurance can save you plenty of money. The first thing you need to do is get auto insurance online quotes.Finding discount auto insurance is actually quite simple if you use the online tools that are available to you. There are many insurance companies that will offer you online insurance quotes and then allow you to purchase your insurance right from your computer chair.What you want ...(related: Insurance)
Msa Or Hsa: Can I Keep My Msa Or Do I Need To Convert It Into An Hsa?
The Medical Savings Account (MSA) is an older form of the Health Savings Account (HSA).You cannot open a new MSA. You cannot contribute additional money into your MSA.However, you can keep your MSA as long as you like. When you retire, it will automatically turn into an Individual Retirement Account (IRA) and you can withdraw money from it then for any reason (not just medical).Or, if you don't want to keep y...(related: Insurance)
How To Take The Guesswork Out Of Buying Term Life Insurance
Protecting your family is the single most important thing any individual can plan for during his or her life. Buying life insurance can be confusing, and a frustrating process. As an insurance agent, I am well aware of the details a customer must know to make the decision easier. In this article, I will offer practical advice on how to simply purchase life insurance.Look for a company that has at least an AA-rating or above. Independent agencies such as Moody's and Standard & Poors rate insurance companies on financial strength., there's little or no difference in two companies with the same exact financial rating. You should feel comfortable with any company that has an AA or higher rating....(related: Insurance)
The Ups And Downs Of Temporary Health Insurance
If you're a recent college graduate, or in between jobs, temporary health insurance may be just what you are looking for. As the name suggests, this short term health plan covers from one month up to a full year. And with a very inexpensive price tag, most consumers are thrilled to have finally found a viable health care option. While there are benefits with temporary health insurance, there are a few negative aspects as well.
Online Insurance: The End Of The High Street Broker?
When I was a lad, some 25 years ago, the Insurance Company called to your door every month to collect your life insurance premium. My recollection is of a drab suited man having to run the gauntlet of neighbourhood dogs rather like the postman.Then through the eighties more and more people found their wages being deposited directly into hastily set up bank accounts; this led to the standing order for paying all sorts of regular bills including insurances and heralded the demise of the door to door representative. An economy quickly realised by big insurance companies in the UK.Then during the nineties big firms latched on to the idea of "direct" which is a handy abbreviation for cutting out the ...(related: Insurance)
Everyone Wants The Cheapest Automobile Insurance Quote
When you are looking for an automobile insurance quote, the first thing you usually do is pick up the phone and start calling the various insurance companies in your local area. Then you have to wait for them to call you back with a quote, which quite often is very similar to what you are already paying. The funny thing is that no one bothers about getting an automobile insurance quote until they receive the notification for their renewal and then they start scrambling to find ways to save money.When you are looking for an automobile insurance quote online, you need to look through all the online insurance companies. Most of these companies will give you a free automobile insurance quote. A...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance