Many Americans live paycheck to paycheck. Almost eight out of 10 workers say they barely make ends meet, according to a 2017 survey from CareerBuilder.
Forget about that big vacation or even retirement, because all it takes is one big and unexpected expense to spell financial disaster. In fact, 62% of bankruptcy filings are due to medical bills.
It's no wonder that healthcare, and specifically healthcare affordability, is a top issue for voters with midterm elections only three months away. Unfortunately, with the current political divide in this country, there seems to be no easy solution in view.
And you'd think that would make investing in healthcare problematic. But Money Morning readers know that bucking conventional wisdom is the real way to make serious money in the stock market.
Today, we're bringing you a healthcare stock to buy that could more than double your money in the next two years.
According to Money Morning Defense and Tech Specialist Michael A. Robinson, this healthcare company is actually helping people reduce their healthcare costs.
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But the timing is critical here. This healthcare stock is already in motion - up 102% in the last year. However, that is just the start for this stock. After all, people are going to need its services for years to come, no matter what happens in Washington.
That's because it offers Health Savings Accounts (HSAs), which give both employers and customers much-desired benefits.
HSAs let you set aside money on a pretax basis to pay for future healthcare needs - for deductibles, copayments, coinsurance, and other medical expenses. Because those dollars are untaxed and held in a savings account, you can lower your healthcare costs.
Companies love them because they lower costs for their workers while giving those workers more choice in making healthcare decisions.
And, of course, employees and all healthcare consumers like them because they enable them to pay with pretax dollars instead of after-tax dollars.
Here's the stock to buy, and why we still see triple-digit upside in the next two years...
This Is By Far the Best Healthcare Stock to Buy Now
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The company is HealthEquity Inc. (Nasdaq: HQY), one of the nation's largest HSA managers. Best of all, the stock passed through Robinson's filters for must-have technology companies.
First, it has top-notch management. CEO Jon Kessler has quite the academic pedigree. He also founded WageWorks Inc. (NYSE: WAGE) in 2000, a premier provider of tax-advantaged programs for employee benefits.
Second, the company sports solid fundamentals that allow you to ignore the hype over healthcare legislation. For proof, the stock beat the market fourfold since the start of last year, compared to the drug sector's 10% gain and the overall market's 25% gain.
Third, it's front-and-center in an "Unstoppable Trend" - the battle against healthcare costs. These trends affect almost everyone and they do it in a profound way. Companies harnessing its power create life-changing wealth.
Fourth, the company has a superior growth rate, which usually translates to superior stock returns. HealthEquity grew sales in its most recent quarter by 26%, which means it is growing eight times faster than the economy.
And fifth, it is a stock that has the potential to double your money. Robinson projects that earnings per share will grow by an average 36% over the next three years. Plugging that into his "Doubling Calculator" by dividing 36% by 72, the result is a double in just two years.
There is no real mystery here. HealthEquity is a strong, well-run company riding an Unstoppable Trend and showing real profitability. It's the best stock in this sector.
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