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As part of on October 15, we talked to three health savings account (HSA) participants to learn about how they first discovered the benefits of an HSA, how an HSA helps them meet their financial goals, and what they鈥檙e loving right now about their accounts. 

Here鈥檚 how three HSA participants just like you have found success using their tax-advantaged accounts.

Scot, 54 years old 鈥� Tucson, Arizona

For Scot, a 54-year-old consultant from Tucson, Arizona, his HSA strategy is focused on saving for the unknowns of the future. Scot signed up for his first HSA nearly 15 years ago as a full-time employee. When he became self-employed, he and his wife started contributing to a joint account. They max out their contributions and are trying not to touch the account for now.

鈥淢y plan is to use this money as supplemental money in retirement to cover healthcare expenses,鈥� he said, 鈥渂ecause healthcare expenses in retirement are inherently unpredictable. Having a pot of money there that can be used exclusively for healthcare expenses has a lot of value to me.鈥�

Scot is a self-directed investor who learned about finances from his father. Scot manages the investments in his account himself. But he thinks an HSA is appropriate for less experienced savers and investors, too.

鈥淚f you鈥檙e just starting out, if you鈥檙e younger, the thing to remember is that you鈥檝e got a long period of time to let this money grow,鈥� he said. 鈥淭he key is that it鈥檚 automated, that you don鈥檛 have to think about it. You never see this money, and once it鈥檚 in there, you can only spend it on things it鈥檚 approved for. It鈥檚 a terrific way of starting off saving.鈥�

For Scot, the tax benefits are what make an HSA particularly appealing. 

鈥淭his is money that鈥檚 being taken out of your paycheck before you pay taxes on it. And as long as you use that money in the correct way, you will never pay any taxes on it,鈥� he explained. 鈥淚鈥檓 sold in terms of this being a vehicle that absolutely fits what I鈥檓 trying to do.鈥�

Titi, 46 鈥� Minneapolis, Minnesota

Titi first chose a high-deductible health plan (HDHP) with an HSA in order to minimize health expenses for her young family of four. But she鈥檚 had the pleasure of seeing her HSA balance grow to a substantial nest egg over the years. 

鈥淚 started out very small, but as my paycheck increased each year, I added a little more,鈥� she said. 鈥淲e get to see a sizable chunk of money sitting in an account right now. It definitely pays off to do it regularly.鈥� 

Titi and her husband, whose two children are now young adults, carefully consider their finances and HSA contribution every October during open enrollment. 

鈥淲e always look at our needs each year and reevaluate what we need to put in,鈥� she said. 鈥淚f there鈥檚 a chance for us to catch up on it, we will. Sometimes we put in a large chunk of money to help us grow that HSA.鈥�

Titi and her husband opened a second HSA four years ago that they use on a day-to-day basis for medical and dental expenses. But they want to let their more mature account continue to grow.

鈥淭hat is something that we plan to use in retirement,鈥� she said. 鈥淎nything we contribute is tax-free. We get to watch it grow tax-free, and then any withdrawals we do in the future will be tax-free. Those are some of the tax benefits we鈥檙e looking at.鈥�

Eddie, 28 鈥� Houston, Texas

When Eddie got his first job as a research coordinator at a Houston university in his early 20s, he didn鈥檛 know anything about HSAs. 

鈥淥n our Day 1 training, the benefits team presented us three different options,鈥� he said. 鈥淭he one that made the most sense to me was the high-deductible health plan, which luckily for me was tied to the HSA.鈥�

Six years later, at the age of 28, Eddie says he uses his HSA on a regular basis for eligible expenses, such as multivitamins, sunblock, and healthcare appointments.

Eddie appreciates the flexibility of having an HSA, as well as the convenience of making automatic contributions through his employer. 

鈥淵ou can use the funds almost anywhere for health-related expenses,鈥� he said. 鈥淎nd especially if it鈥檚 set up through your employer, you鈥檙e contributing without even knowing. It鈥檚 constantly building up, and whenever you need it, it鈥檚 there for you. That鈥檚 the biggest thing for me.鈥�

Having seen the value of his HSA, Eddie has started making an effort to get even more educated about his benefits. He attends webinars and sessions through his employer and reads articles he finds online about using the account as an investment vehicle. And he picked up some valuable tips this year in 亚洲色吧鈥檚 HSA Day.

鈥淲ith open enrollment just around the corner, it鈥檚 something that you鈥檝e got to think about,鈥� he said. 鈥淓very year I put some time and effort in to see what is going to be my best option. Time and time again, year after year, my best option has been the HSA.鈥� 

Want to learn more about HSAs? We鈥檝e got you covered: Check out , our HSA , HSA  and a handy savings calculator. The Health Trends & Insights blog is also a wealth of information on HSAs.