Did you know a Health Savings Account, or HSA, offers three different tax advantages? Contributions are deductible, earnings are tax-deferred while in the HSA, and 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 in order to enjoy all of their tax benefits.
For more information, download “Contributing to a Health Savings Account in 5 Easy Steps.”
For professional assistance with tax planning strategies, contact our office at 703-466-0477 to schedule a time to visit.
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Advisory Services offered through AMJ Financial Wealth Management LLC
AMJ Financial Wealth Management LLC is not affiliated with Triad Advisors LLC