35. Health Savings Accounts: What They Are and How to Use Them
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35. Health Savings Accounts: What They Are and How to Use Them
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A Health Savings Account can help you prepare for potential healthcare expenses and limit the impact they have on your finances. If you have a high-deductible health insurance plan, you probably have the option to contribute to an HSA.
The best thing about HSA funds is that they are tax-free! As long as you spend the money on legit healthcare expenses, you won't pay federal taxes on contributions, earnings, or withdrawals.
In this episode, I cover all the basics of HSAs. I've got some real-life examples and tips for making the most of your Health Savings Account.
Where to find me:
- BudgetingBlocks: livewealthynow.com/budgetingblocks
- Blog: livewealthynow.com/blog
- FREE resources: livewealthynow.com/resources
- Instagram: Hannah Moore (@everyday_money)
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