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Sheena Hanson, Investment Advisor Representative and CCO, Uncommon Cents Investing

Health care expenses are inevitable. In fact, the average American household spends $5,000 per year on health care. Health Savings Accounts, or HSAs, are a lesser-known savings vehicle but are becoming more and more popular for good reason. If you like getting discounts instead of paying full price on anything you shop for, health care expenses should be no different.

Traditional long-term savings and investment planning almost always involves discussion of retirement accounts such as IRAs and 401(k)s, but typically not the HSA. That trend is slowly starting to change. People are becoming more aware of the incredible advantages of saving for health care in a tax-advantaged way.

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