Have You Considered This Unique Way to Pay for Rising Healthcare Costs?

The increasing costs of healthcare is one of the top concerns among Americans today.

One option to consider to help pay for these costs is to take advantage of tax-advantaged savings specifically for health expenses through a Health Savings Account (HSA).

HSAs offer three different tax advantages:

1) Contributions are deductible

2) Earnings are tax-deferred while in the HSA, and

3) Distributions are tax-free when they are used for qualified medical expenses

If you’re enrolled in a high-deductible health insurance plan, you may want to consider contributing to an HSA.

Keep in mind that, like other retirement savings vehicles, HSAs come with their own set of rules you must follow to enjoy all of their tax benefits.

For more information, click here to download “Contributing to a Health Savings Account in 5 Easy Steps.”

To find more about how to plan for healthcare costs and to discuss whether an HSA is right for you, contact our office at 516-294-5287 to schedule a time to visit.

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Disclaimer:

Any information provided on this blog is accurate and true to the best of our knowledge, but omissions, errors, and mistakes are a possibility. The information presented on this blog is for informational purposes only and should not be seen as financial advice. Consult with a financial professional before taking any sort of action on the information present in this blog. We reserve the right to change how we manage and run this blog and we may change the focus or content of this blog at any time.