CFPB Highlights the Hidden Costs of Health Savings Accounts

Hampton Roads Messenger

Center

CFPB Highlights the Hidden Costs of Health Savings Accounts

Tweet Many HSAs suffer from low interest rate yields and junk fees to switch WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay. There were approximately 36 million health savings accounts in 2023 – holding more than $116 billion. These accounts provide tax benefits to help offset the costs of high deduc…