Health Savings Accounts (HSAs): S2 E1

Health Savings Accounts (HSAs): S2 E1

Brian’s Budgets

02/08/2021 2:40PM

Episode Synopsis "Health Savings Accounts (HSAs): S2 E1"

Not to be confused with a Flexible Savings Account (FSA), a Health Savings Account (HSA) is a powerful tool in the finance universe. Often available with select plans from your employer, an HSA is an account used to deduct funds pre-tax from your paycheck. The funds are earmarked for future medical expenses once saved, but in the interim, they can be invested and will grow tax-free. When the funds are used for an eligible medical bill in the future, no taxes are owed either. That’s right: An HSA is triple-tax-advantaged and the only account that is.

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