There are many retirement planning tools you can use to prepare for the future.

But of all the selections out there, the health savings account is one of the very best. Many financial and retirement planners say it should be prioritized. Now it’s gotten a big boost that could prove very helpful.

Annual contribution limits have gone up by $300 to $4,150 making it easier for people to plan ahead during this difficult economic time. This can help with retirement planning for all ages. However, it’s especially useful for seniors. This is especially true if they have higher medical costs.

Will you be taking advantage of this change? For more news like this, follow NORA on Facebook and Twitter.