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The value of a Health Savings Account
Health savings accounts (HSAs) have triple tax benefits and can be a powerful retirement savings vehicle. If an employer makes a contribution to an employee’s HSA, the contribution is not included in the employee’s gross income. Also, when an individual contributes to an HSA, that contribution is deductible and the money can be invested with the investment returns compounded tax-free, increasing the value of the account. If the distributions from an HSA are used to pay for or reimburse the HSA owner for qualified medical expenses, they are not taxed. For more ways to maximize the benefits of health savings account, click on link here…
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