I specialize in offer my clients HSA’s, below you will find a brief overview of the advantages. If you’re interested please request a consultation to review them in more detail!
A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. HSAs were signed into law by President Bush on December 8, 2003.
Any adult can contribute to an HSA if they:
Security – Your high deductible insurance and HSA protect you against high or unexpected medical bills.
Affordability – You should be able to lower your health insurance premiums by switching to health insurance coverage with a higher deductible.
Flexibility – You can use the funds in your account to pay for current medical expenses, including expenses that your insurance may not cover, or save the money in your account for future needs, such as:
Savings – You can save the money in your account for future medical expenses and grow your account through investment earnings.
Control – You make all the decisions about:
Portability – Accounts are completely portable, meaning you can keep your HSA even if you:
Ownership – Funds remain in the account from year to year, just like an IRA. There are no “use it or lose it” rules for HSAs.
Tax Savings – An HSA provides you triple tax savings: