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One of the key features of these plans is that the funds in them can be carried over from year to year and can be invested like a 401(k) plan. Funds in HSAs can be used to pay for a myriad of out-of-pocket medical-related expenses, pharmaceuticals and medical devices. Not everyone is eligible to participate in an HSA.
Outstanding pharmaceutical and/or hospitalization coverage. Large and small businesses alike benefit from sponsoring plans such as 401(K)s and Simple IRAs. Medical plans with no or low-cost deductibles. Insurance that is accepted at a greater range of places. The company paying a higher portion of the insurance premium.
In fact, after raising the prices of more than 1,400 prescription drugs in 2022, pharmaceutical companies started 2023 off with a 5% increase for more than 450 medications. Add to that considerable pipeline of new medicines to treat specialty diseases, including gene cell therapies, RNA therapies, immuno-oncology treatments, etc.,
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