Health Savings Accounts, or HSAs, are extremely powerful savings and investment vehicles for medical expenses and retirement. They are right up there with Roth IRAs in our Financial Order of Operations - and might even be a bit better. HSA contributions are tax-deductible, money grows tax-free, and comes out tax-free when used for qualified medical expenses. If you contribute through an employer HSA, contributions are also exempt from FICA taxes (for more about the basics of an HSA, including who can contribute, what expenses are eligible for reimbursement, and the best way to use an HSA, check out
Does It Always Make Sense To Utilize an HSA?
Does It Always Make Sense To Utilize an HSA?
Does It Always Make Sense To Utilize an HSA?
Health Savings Accounts, or HSAs, are extremely powerful savings and investment vehicles for medical expenses and retirement. They are right up there with Roth IRAs in our Financial Order of Operations - and might even be a bit better. HSA contributions are tax-deductible, money grows tax-free, and comes out tax-free when used for qualified medical expenses. If you contribute through an employer HSA, contributions are also exempt from FICA taxes (for more about the basics of an HSA, including who can contribute, what expenses are eligible for reimbursement, and the best way to use an HSA, check out