A Health Savings Account offers a tax-favored way for eligible individuals (or their employers) to set aside funds to meet medical needs. Among the tax benefits: 1) contributions are deductible within limits; 2) earnings in the HSA aren’t taxed; 3) contributions an employer makes aren’t taxed; and 4) distributions to pay qualified expenses aren’t taxed. […]
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Is a Health Savings Account right for you?
For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. Some of the tax benefits: 1) Contributions are deductible, within limits; 2) Earnings on the funds in the HSA aren’t taxed; 3) Contributions an employer makes aren’t taxed […]
