The Triad of Health
Money put in the plan grows tax free and funds withdrawn for qualified medical expenses are also tax free. Money can be rolled over from year to year. The plan is set up like an IRA. Unlike the older Flexible Savings Accounts offered in employer cafeteria plans, you sport don’t have to spend the health money put into the account by year end or otherwise lose whatever’s left. This can allow for a nice chunk of money to accumulate that can be withdraw tax free at age 65.
