Health Savings Accounts (HSAs)

Health Savings Accounts (HSAs) are tax-advantaged savings accounts designed for individuals with high-deductible health plans. They allow you to set aside money for medical expenses, such as doctor visits and prescriptions, tax-free. Contributions are made pre-tax, reducing your taxable income, and funds can grow tax-free. Withdrawals for qualified healthcare expenses are also tax-free. HSAs can be used to save for future medical costs, and any unused funds can roll over from year to year. This makes HSAs a valuable tool for managing healthcare costs while enjoying tax benefits.