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Health Savings Accounts

Health Savings Accounts

| April 03, 2024

One account, three tax benefits—that's the health savings account (HSA). We all know that healthcare costs continue to soar, which creates a conundrum for individuals, as well as employers who are offering health benefits to their employees. In this episode, I’ll shed light on the most important benefits of having a health savings account and share some of my best tips for getting the most out of this underutilized tool.

Listen in to hear about the latest trends in high-deductible healthcare plans and where HSAs come in to help you offset the medical expenses you may encounter. I’ll discuss everything from what an HSA can help you with to how to set one up (even if your employer doesn’t offer one). The tax benefits that come along with an HSA are significant, as are the other advantages that come along with having one, so it's worth looking into this important option.

Listen To The Episode Here:

What You’ll Learn:

  • The consequences and fallout of higher healthcare costs.

  • Where HSAs come into play when it comes to medical coverage.

  • How to get an HSA and how to know if you’re eligible.

  • The limitations on HSAs and how to plan for that.

  • Understanding the tax benefits of the HSA.

  • The biggest differences between an FSA and an HSA.

  • How an HSA can help with retirement planning.

Ideas Worth Sharing:

  • “Are you missing out on the benefits of a health savings account?” - Regina McCann Hess
  • “You and your employer can contribute to an HSA via payroll deductions. If your employer doesn’t have an HSA, you can open one yourself.” - Regina McCann Hess
  • “Be careful! An HSA is different than an FSA.” - Regina McCann Hess


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