What is a Health Savings Account (HSA) and why is it called 'triple tax-advantaged'?

An HSA is a savings account linked to a High-Deductible Health Plan (HDHP). It is called triple tax-advantaged because: (1) Contributions are pre-tax (or tax-deductible if made directly), reducing your taxable income now. (2) Money in the account grows tax-free through investments. (3) Withdrawals are tax-free when used for qualified medical expenses. The 2025 contribution limits are $4,300 for individual coverage and $8,550 for family coverage. There is no 'use it or lose it' rule — HSA balances roll over indefinitely. After age 65, you can withdraw for any reason (like a Traditional IRA, paying ordinary income tax), making the HSA one of the most powerful long-term savings vehicles available.