As the cost of healthcare zooms upward, many employers are shifting to high-deductible health plans, which include a lower monthly premium and, as the name implies, a higher deductible. In 2016, 29% of all insured employees were enrolled in HDHPs — an increase of 9% since 2014, according to Kaiser Family Foundation. Often, employers offer health savings accounts along with HDHPs to enable employees to save money tax-free for medical expenses.

However, HSAs are often underutilized by employees, who may not understand the full benefit of this type of savings account. And now, there’s a greater imperative for understanding how HSAs work: the proposed Republican plan for replacing the Affordable Care Act significantly expands HSAs.

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