Here's why it pays to shop for this tax-advantaged savings account

Here's why it pays to shop for this tax-advantaged savings account  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, OCT 09, 2019 YOUR WEALTH Editor's Note If you don't know much about an HSA, you should do some homework and find out the many benefits. A health savings account is basically a type of account that allows you to set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in an HSA account to pay for deductibles, co-payments, co-insurance and some other expenses, you may be able to lower your overall health-care costs. That includes qualified medical expenses, including dental and vision. And the cool thing is withdrawals to pay these expenses are never taxed. An HSA offers triple tax savings that can be extremely beneficial to anyone who may need to pay off a big bill for a medical emergency. An HSA will also cover a variety of health expenses that aren't covered by traditional employee health insurance plans. If you're generally healthy and want to save for future health-care expenses, an HSA may be an attractive choice. Or if you're near retirement, an HSA may make sense because the money can be used to offset the costs of medical care after retirement. While it sounds great to have a plan that offers such valuable tax savings and a wide array of services, it's important to understand all of the details of an HSA before determining if it's right for you. For more cool stuff like this, please follow me on Twitter @jimpavia and check out CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia @JIMPAVIA Here's why it pays to shop for this tax-advantaged savings account Not all health savings accounts are built equally. While all HSAs benefit from a so-called "triple-tax advantage," they all differ when it comes to costs, investment options and more. Here's how to find the right one for you. Before moving all your IRA money to a Roth, consider these lost tax benefits Although Roth IRAs grow tax-free and qualified withdrawals are also untaxed, traditional IRAs come with some potential tax benefits that are lost once the money is transferred. Be like a bank. Test yourself to see how your finances would hold up if something bad happened Banks perform regular tests to see how they'd perform under stressful conditions. Be like banks. 'I had sent my money to a thief' — hackers are coming for homebuyers. This man lost $150,000 So-called business email compromise scams are on the rise, with more than $26 billion lost over the last three years. The problem has become an epidemic for the real estate industry, experts say. The top 10 best places to retire U.S. News & World Report determined the best places to retire based on criteria such as housing affordability, taxes, health care and overall happiness. Here's what Congress may do to fix Social Security this fall The House of Representatives may vote on a measure to extend Social Security's solvency in the next few months. That, coupled with new proposals to change a rule that affects public workers' benefits, could amount to the most substantial reforms to the insurance program since 1983. How to know if a pension lump sum is right for you when companies like GE offer one Whether you count yourself among those former GE workers or are have a similar option on the table elsewhere, it's important to weigh the pros and cons before deciding whether to take a company up on its offer. Take these 3 steps to start saving now, CFPB director Kathy Kraninger says Emergencies happen. So, it makes sense to start putting money aside. Here's how to get started. Deepak Chopra: Your bad money habits could be hurting your health Financial fitness is important to your overall well-being, says health and wellness guru Deepak Chopra. Recession is coming; "Code Red" yield curve indicator seals the deal "Seven out of the last 7 recessions had been presaged by a yield curve inversion – which is what happens when it longer term bond yields fall below shorter term bond yields in the Treasury market ..." CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS