Blog post

Health Savings Accounts (HSAs) are valuable

Health Savings Accounts (HSAs) are valuable

HSAs, which must be paired with high-deductible health care plans, have a triple tax advantage:


  1. Pre-tax contributions
  2. Tax-free growth
  3. Tax-free withdrawal for qualified expenses


Funds can be used for most qualified medical expenses, including medical/dental/vision care, health care premiums, Medicare, Medicare Advantage, and Part D Drug plans. The exception is Medicare Supplemental Insurance, also known as Medigap plans—the premiums for these plans are not qualified expenses for HSAs.

By Larry Derany