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As open enrollment season gets underway, you may find yourself having to decide whether a health savings account should be part of your 2023 medical coverage. These tax-advantaged accounts let users save for medical expenses.
Many companies will soon — or already have started to — hold their annual open enrollment period for workers to pick their health plan for next year, among other employer-sponsored benefits. Some of those firms will offer so-called high-deductible health plans, which are what HSAs are tied to, as an option for coverage.
“For the most part…an [HSA eligible] plan is the most cost-effective way to get health insurance,” said certified financial planner Carolyn McClanahan, founder of Life Planning Partners in Jacksonville, Florida.
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