(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And Justin, so we want to talk about health savings accounts. So, what are the benefits and some tax advantages of that?

(Justin) That's right. Everybody's wanting to know. Health is the biggest topic around financial wellness most people are looking at, because it's going to be the biggest in retirement. It's also the most uncertain when we first start our careers, right? But health savings accounts, as long as you have a high-deductible plan and your employer offers it, it's a great way to save on taxes. The money grows tax deferred, and then, on the back end, as long as it's used for a medical expense, you don't pay taxes, either.

(Kristen) What if your employer doesn't offer it? What do you do?

(Justin) So, at the end of the day, there might be other options that you want to ask your HR manager and HR employee specialist, but on the outside, put money aside for a rainy day like that in a saving or checking account. Don't worry about interest. Just use it for liquidity.

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