What is a Lumenos Health Savings Account?
The cost of hospitalization or the services of a medical specialist can be astronomical if you do not have health insurance, and conventional health insurance plans are not your only options for obtaining financial protection. The Lumenos Health Savings Account is a tax-free account which functions in a similar way to a regular bank account, except all funds contributed are saved towards meeting your medical expenses. Funds invested in an HSA accumulate if unused, and do not expire at the end of each calendar year.
Advantages to Opening a Lumenos Account
There are a number of advantages to opening a Lumenos Health Savings Account. In addition to providing a simple way to save tax-free dollars for your medical expenses, Health Savings Accounts can provide a sizeable nest egg for retirement if funds have not been used up once you retire. Because your unused funds accrue interest, a HSA account can function as a safety net for your medical expenses as well as an investment.