THANKS, W!:

What does health care have to do with retirement? Plenty, and there's an investment vehicle out there that can help with it.

Health savings accounts could be an important option, though most people aren't thinking of them for retirement. As their name implies, these vehicles are designed to help Americans stash away cash for medical expenditures. Most people use them for near-term costs, while still employed. But medical bills also accumulate in retirement, and the money that builds up can be used to meet such costs, very efficiently.

The accounts allow for pretax contributions, tax-sheltered growth of investment dollars and tax-free withdrawals if used to pay for medical costs. They can help minimize taxes compared with taking withdrawals from other accounts, such as traditional Individual Retirement Accounts.

HSAs increasingly are included in benefits packages offered by employers. They also may be opened through the government health insurance marketplaces or exchanges. Either way, HSAs are designed for people who use high-deductible health insurance plans. With open-enrollment season here, now's the time to investigate.

Tweet   @brothersjudd