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.
To learn more about how an HSA might benefit you, contact our office at 281-999-1283 to schedule a time to visit.