Health Savings Accounts (HSAs) have been around for over 20 years, aimed mainly at those with high-deductible health plans. But starting this January, the rules changed. Now, anyone with a “bronze” or “catastrophic coverage” plan from the Affordable Care Act (ACA) can also contribute to an HSA. This means millions more Americans can take advantage of HSAs.
Kevin Robertson, chief growth officer at HSA Bank, explains that HSAs offer a straightforward way to save money and cover healthcare costs without paying taxes on that money. “HSAs are meant to cover the costs that health insurance doesn’t,” he says. This includes things like deductibles, co-pays, and other out-of-pocket expenses—even over-the-counter medications, dental, and vision care.
Another perk? You don’t just have to use your HSA for yourself. The funds can be spent on your spouse or dependents, making it a versatile option for families. Robertson highlights that, on average, people spend about $3,000 a year on healthcare expenses.
Investing your HSA dollars is also an option. Instead of letting your savings sit in a low-interest account, you can potentially earn more by investing them wisely. Robertson encourages people to think about HSAs not just as savings accounts, but as a way to grow their healthcare funds.
In 2025, about 1.5 million Georgians signed up for ACA plans, with approximately 368,000 choosing “Bronze” options. This recent shift indicates a growing interest in utilizing HSAs.
According to a survey conducted by the Employee Benefit Research Institute, 74% of participants did not know what an HSA was. This highlights the need for more education about these accounts, especially now that more people can qualify.
By understanding HSAs, individuals can better manage their healthcare costs, taking control of their spending. This knowledge could lead to healthier financial and physical outcomes for millions of Americans.
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