Colleen King covers the question of whether married couples should open one Health Savings Account or two.

the question I want to address in this article is one aspect of setting up the actual HSA. When a family has an HSA eligible plan, should they set up one HSA or two? Well, when you set up an HSA for your family there can only be one account holder listed, but the money in the account can be used for all members covered by their family health plan.

Being single this is something that never occurred to me, but a married couple could stash away quite a bit of money with two accounts. Definitely food for thought.

Interesting article at Free Money Finance on how to maximize your savings on a Health Savings Account, turning it into a “super Roth”.

For the first two years, I followed conventional practice and used HSA funds to pay for all of our medical expenses, including approved expenses that were not covered by our insurance plan (over the counter medications and such).  However, at the end of 2007 I began to think about the conventional wisdom and studied various government rules and publications about HSA contributions.  It was then that I realized that I could likely obtain a greater long term financial benefit from my HSA funds by NOT spending them now.  Instead, I could let them accumulate in the account and withdraw those funds when I retire later (including any investment earnings and appreciation), absolutely tax free.  In other words, I was going to use my HSA account as a “super Roth” account.

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