Here’s My Top Stock to Buy in October
Few companies can match the returns put up by HealthEquity (NASDAQ:HQY)
And despite boasting a nosebleed valuation and trading within a few dollars of its all-time high, I still think it’s a great time for investors to buy this fast-growing stock. Here’s why…
Health insurance premiums have been rising at a breakneck pace for more than a decade in America. This endless inflation has forced consumers and employers alike to search for ways to contain their costs.
This backdrop has caused demand for high-deductible health plans to surge, which makes sense given that the average high-deductible health plans save about $1,900 in premium costs each year. However, that cost savings is offset by the fact that coverage doesn’t start until the consumer has paid four figures of upfront costs.
To help offset that burden, the U.S. government introduced health savings accounts to the market in 2003. These accounts offer a triple-tax advantage that makes them an easy choice for eligible employees. And the amazing tax advantages provided by HSAs have caused their popularity to skyrocket: More than 23 million Americas now have HSA accounts, which collectively hold more than $50 billion in total assets.
Standing apart from the crowd
While the tailwind for HSAs, in general, has been strong, no company has prospered as much from the trend as…
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