Recent changes to health savings accounts (HSAs) make them much more attractive. These accounts double as health insurance and a retirement account. Previously, they only allowed smaller contributions each year, but the limit has been raised for 2024. Money contributed to a health savings account is tax deductible. It enables money to be available for…
Health Savings Accounts Are More Attractive Than Ever: Is It Time to Get One?
June 9, 2023
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How to Save for Health Care in Retirement
By Sandra Block From Kiplinger’s Personal Finance A health savings account provides one of the most-effective strategies to save for health care in retirement. Contributions are pretax (or tax-deductible, if your HSA isn’t employer-sponsored), the funds grow tax-deferred, and withdrawals are tax-free for qualified medical expenses. There are no income limits on HSAs, but you…
HSA vs. FSA: What Are the Key Differences?
January 26, 2023
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By Entrepreneur Staff When researching the best healthcare plan for you, thoroughly exploring your options is vital. Throughout your search, you may come across HSAs and FSAs. For more information on what they are, their pros and cons and the key differences between the two, check out the information below. What Is an HSA? A…
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