Do you have a Health Savings Account?  These are tax-free savings plans can be a great way to build up for medical needs in the future.  One sticking point is that you need to have a high-deductible insurance plan to participate in an HSA,  In that light, HSAs are generally better for healthier people that don’t typically pay much out-of-pocket costs and have the emergency fund or a higher income that can cover the high deductible or risk draining the account with one major medical event.

More employers are offering HSAs as their only option and some are luring employees into HSAs by offering bonuses to switch.  Think about your past medical expenses and look at your family’s health history before deciding which route to go.