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HSA or 401(k)? Which should come first?

Workers need to save for retirement. They also need to save for the health care expenses they’ll inevitably have in retirement.

Sometimes, those two responsibilities seem to compete with one another.

Only a quarter of employees prioritize contributing to a health savings account (HSA), according to a new study by Willis Towers Watson, a global advisory and research firm, which surveyed more than 2,000 full-time employees in the private sector. Instead, these employees considered contributing to a 401(k) plan, spending on everyday necessities and paying off debt to be more important. Yet, a majority of these employees (82%) also said medical expenses will be the biggest challenge come retirement.

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