HSAs, an adviser favorite, just don’t get much love Health savings accounts, often confused with flexible spending accounts, are prized for their tax leniency. But many things hold them back, including the high-deductible health plans to which they are tethered. February 1, 2021 8 MINS Health savings accounts are one of the top recommendations advisers make for clients, but the savings vehicles are scarcely used — and when they are, they are almost always treated like checking accounts. As every financial professional worth their salt knows, HSAs are a unicorn in the tax world. The accounts are funded with pretax income, grow tax-free and are not taxed when used for eligible expenses — the “triple tax” benefits for which they are so renowned. They represent one of the most efficient ways to squirrel away money for retirement.