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Health Savings Accounts: One Account - Three Tax Benefits

Health Savings Accounts: One Account - Three Tax Benefits

| August 15, 2022
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We all know that healthcare costs continue to soar, and that creates a conundrum for both us and for employers who offer healthcare to their employees. In recent years, employers have been seeking to lower their burden, and employees are more often shouldering a heavier portion of healthcare costs. In this episode, I’ll share some key information about Health Savings Accounts (HSAs) and what they are able to do to help you handle rising healthcare costs.

Listen in to learn about why HSA accounts have been a popular option among employers, as well as how they factor into a high deductible healthcare plan. You'll get details on who is eligible for an HSA, what you can use your HSA money for, how to best use and contribute to your HSA, what to watch out for, and more.


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What You’ll Learn:

  • The rise of HSAs and why they are becoming more popular.
  • How to be eligible for an HSA.
  • What an HSA can be used for.
  • How to contribute to an HSA plan.
  • The difference between an HSA and FSA.
  • The benefits of using an HSA in your retirement planning.

Ideas Worth Sharing:

“You own your HSA forever, so if you leave your current job, you can take your HSA with you.” - Regina McCann Hess

“You’ll pay a 20% penalty if your HSA money is spent on anything other than a qualified medical expense.” - Regina McCann Hess

“HSAs can potentially be good planning tools when you’re reaching retirement age.” - Regina McCann Hess

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