Home » HSA and Youth – Why it is Important to Start Contributing Early in Life

HSA and Youth – Why it is Important to Start Contributing Early in Life

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Being a young person starting adulthood is not easy. Pay rent, buy a car, college expenses. We
understand this. But it is very important to start thinking about your health long before you really
need medical attention. When you are young and healthy, it’s hard to think about spending on what
you currently don’t need. But this is exactly the plus point of a TalliHealth account. Month after
month, year after year, all the contributions you make are kept safe, and the best, totally
tax free.You sure think about retiring someday. Contributing to your 401 (k) or an IRA is one thing,
but you should consider unexpected future expenses. We also know that at this age there are many
job changes, but you have nothing to worry about; even with this change, nothing changes in your
TalliHealth account. That money remains all yours. So you are not losing money, but saving
it in a safe place where it just grows over time. In 2018, 76 percent of of young people who are eligible had enrolled in an account, up from 40 percent in 2017. Let’s just create an assumption here. If you start saving to the upper limit from this year (3,500 to if you have single coverage or up to $ 7,000 for family coverage) and make no withdrawals, in 40 years you will have about $ 380,000 in your account. If you are lucky enough and do not need to spend this money on medical expenses, it is money that from the age of 65 you can withdraw free of charge and use as you wish.

It’s a win-or-win situation. So what are you waiting for? Join TalliHealth and start saving now!

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