Health Savings Accounts (HSAs) have surged in popularity, driven by their tax benefits and potential to offset the expenses of high-deductible health plans. Data show there are about 35 million HSAs now compared to 11.8 million in 2013 and the accounts hold more than $116 billion today, a 500% increase from about ten years ago.
However, the Consumer Financial Protection Bureau (CFPB) says hidden costs lie beneath the surface of these accounts, which can interfere with the tax advantages HSAs offer.
