October is HSA Month
Published on October 2nd, 2023
Happy HSA Month! This year’s celebration is a special one, as 2023 marks the 20th anniversary of the health savings account.
HSAs were introduced as part of the Medicare Prescription Drug, Improvement and Modernization Act of 2003. The law was created as a means for individuals covered by high-deductible health plans (HDHPs) to save money and receive important tax advantages on eligible medical expenses.
Since then, organizations including the ECFC, the HSA Council and many others have worked tirelessly to spread awareness and adoption of this powerful savings vehicle. These groups also lobby for legislation that will expand HSA eligibility and enable more Americans to take full advantage of them.
At Alegeus, we continue to invest in technology that supports and expands our HSA capabilities. Features like WealthCare HSA High-Yield and our multi-path HSA investment solution give consumers easy ways to maximize their healthcare savings, now and long into the future.
Throughout the month of October, we’ll be celebrating, discussing and providing education around this topic. All HSA adoption trends indicate that these are, and will continue to be, the fastest growing benefit account type in the market. That makes now a great time to explore the full array of opportunities they present. We invite you to join the discussion and share our HSA content widely.
To stay up to date, follow us on Twitter, LinkedIn, or Facebook, and use the hashtag #HSAMonth2023. And for more helpful articles, browse through our Insights library by typing “HSA” in the search bar.
