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.”pdf

Sign Up for E-News

 

To find more about how to plan for healthcare costs and to discuss whether an HSA is right for you, contact our office at (877) 714-2362 to schedule a time to visit.

 

 Check out our online Income Planning seminar:

 http://wealthfinancialpartners.net/

 

For more IRA Expertise, contact us!

Walter F. Pardo, Founding Partner

An Ed Slott Master Elite IRA Advisor

22 Church Street | P.O. Box 60 | Liberty Corner, NJ | 07938

Phone (877) 714-2362 | Fax 1 + (908) 325.0008

info@wfp-taxes.com

wfp-taxes.com