"Maximizing Triple Tax Benefits: Understanding and Opening an HSA"

Millennial millionaires are taking advantage of the triple tax benefits offered by Health Savings Accounts (HSAs) by maxing out their contributions and letting the funds grow tax-free over time. HSAs allow individuals to invest pretax dollars for health costs, with contributions and earnings growing tax-free. While designed for high-deductible health plans, financially savvy individuals are using HSAs to enhance their retirement savings. By saving receipts for health-related expenses, these millionaires plan to reimburse themselves from their HSAs in the future, allowing the funds to compound and grow.