Personal Finance

An HSA is a great way to manage health-care costs

By April 11, 2019 No Comments
more than 7 in 10 eligible millennials were enrolled in one.

Yet today’s young workers won’t be invincible forever; as they age, they will need more care.

So, if they want to pursue this route, then they — and if possible, their company — should contribute funds on an ongoing basis. This would be their best opportunity to have enough cash to cover their medical needs while having money left over down the road, for other retirement purposes.

Ultimately, the U.S. can substantially lower the cost of health care only by reforming its public policies. The system needs more market-based, bipartisan reforms that increase value and decrease cost. In the meantime, HSAs are one of the prescriptions available to help individuals take matters into their own hands.

— Steve Odland is president and CEO of The Conference Board, a global, independent business membership and research association.

TUNE IN: Watch Steve Odland on
CNBC’s The Exchange
on Thursday at 1:40 PM ET.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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