Reducing healthcare costs with an HSA
The basics
A Health Savings Account (“HSA”) is a tax-advantaged account for individuals enrolled in a high-deductible health plan (“HDHP”) allowing them to contribute tax free money to be used for medical expenses. As with any tax-advantaged account, the IRS does impose some limitations. We’ve included the 2016 limits below but encourage savers to stay on top of these as they are updated annually. There are also $1,000 additional catch-up contributions for...Read More