Business Insider published a feature earlier this year examining how a millionaire uses a Health Savings Account as a genuine wealth-building tool — not just a vehicle for covering medical expenses, but a strategic piece of a larger tax-efficient financial plan.
The full article is available here: How a Millionaire Uses a Health Savings Account to Build Wealth
Why This Coverage Matters Beyond the Headline
The Business Insider piece speaks directly to a shift that financially sophisticated individuals are making — treating the HSA as a triple-tax-advantaged investment account rather than a simple medical spending fund. Contributions go in pre-tax. The money grows tax-free. And qualified withdrawals are also tax-free.
That combination is unmatched by any other account type in the United States tax code. However, most people with access to an HSA through a high-deductible health plan are not using it this way. They are spending the balance on current medical costs rather than investing it for long-term growth.
The millionaire profiled by Business Insider understood the difference. That understanding — and the discipline to act on it — is exactly what separates people who use every available advantage from those who leave significant wealth on the table.
What BudgetDog Academy Teaches on This Topic
Health savings account wealth building is not a new concept inside BudgetDog Academy. Brennan Schlagbaum, a licensed CPA who built a seven-figure net worth before 30 after paying off $304,000 in debt, teaches the HSA as a long-term investment vehicle as part of the program’s broader framework around tax-efficient financial planning.
The strategy is straightforward in concept, though it requires deliberate execution. The goal is to contribute the maximum allowable amount to the HSA each year, invest those funds in low-cost index funds or other appropriate vehicles, and avoid spending the balance on current medical expenses whenever cash flow makes that possible. Out-of-pocket medical costs get paid from regular income or a separate cash reserve. The HSA grows untouched.
Over a long time horizon, the compounding effect of a maximally funded, fully invested HSA is substantial. Additionally, after age 65, the account functions similarly to a traditional IRA — withdrawals for non-medical expenses are taxed as ordinary income rather than penalized. This makes it a flexible retirement asset in addition to a tax-free medical reserve.
The Gap Between Knowing and Doing
The Business Insider coverage highlights a strategy that is publicly available information. The IRS rules governing HSAs are not secrets. The triple-tax benefit is documented. However, the gap between knowing a strategy exists and actually implementing it correctly — alongside a complete financial plan — is where most people get stuck.
That is precisely why BudgetDog Academy students receive ongoing guidance on topics like HSA optimization. It is not enough to read an article and understand the concept. The implementation requires knowing how to select an HSA provider that allows investment of the balance, understanding the annual contribution limits, building a cash flow plan that supports paying medical expenses out-of-pocket, and integrating the HSA into a broader tax strategy that includes retirement accounts, taxable brokerage accounts, and business entities where relevant.
Brennan’s background as a licensed CPA means the guidance students receive accounts for the full financial picture — not just isolated tactics pulled from a headline.
Who the HSA Strategy Is Most Relevant For
Not every person is in a position to maximize an HSA. The account is only available to individuals enrolled in a qualifying high-deductible health plan. For those who are, however, the opportunity is significant and frequently underutilized.
The Business Insider piece reinforces what BudgetDog Academy students already understand: the people building real wealth are not necessarily doing more complex things. They are doing the available things more completely. The HSA is available. The triple-tax advantage is available. The investment functionality is available. Using all of it, intentionally, as part of a plan — that is what distinguishes the approach featured in Business Insider from the way most people treat their health coverage.
The Broader Lesson From This Coverage
When Business Insider covers how a millionaire uses a Health Savings Account, the implicit message is worth paying attention to. Wealth is not built exclusively through dramatic moves or exclusive access to special opportunities. It is built by understanding the tools available to anyone with the right plan, and using them to their full potential.
HSA investing is one of those tools. Brennan and the BudgetDog Academy team treat it as a core component of a complete wealth-building strategy — not a footnote.
For students looking to understand how to implement this strategy alongside their full financial picture, the Business Insider feature is worth reading as context. The real depth, however, comes from applying that strategy within a complete plan built around your specific income, tax situation, and financial goals.