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Quadruple HSA Savings Advantages

Lively · November 20, 2017 · 2 min read

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Anyone familiar with the HSA knows about the triple-tax benefits (outlined below) that they create. But we are here to tell you there is one more HSA advantage you might have missed.  A no fee, 100% free HSA. Welcome to the new quadruple savings advantage HSA.

Quadruple HSA Savings

Triple-Tax Advantages – These include tax-deductible contributions, tax-free interest, and tax-free withdrawals (for qualified out-of-pocket medical expenses) which means you can use tax-free money from your HSA to pay for health expenses. There might not be a more actionable way to limit the increase in healthcare premiums and expenses, year over year to your bottom line.

Most HSAs stop here. Triple tax advantages are substantial and they are a key the selling point for all HSAs, including Lively. The more you can save, the more money you have for health costs. What if we can take it step farther to save you more money?

The Lively Fourth HSA Advantage – No fee, 100% Free Lively HSA. The days of being nickeled and dimed, having money stolen from your HSA, by your HSA provider are over. With that, we have created a new HSA benefit – a Free HSA for individuals (and families). A free HSA lets you use your HSA to its maximum potential, save the most off your health costs and get your HSA money when you need it most. Don’t lose this advantage and get saddled with monthly HSA fees, debit card usage fees, and other hidden costs.

These funds can sound trivial, but HSA fees average $26/year, over the life of your HSA, using our HSA calculator, this is almost $1,000 in additional savings* in your HSA. $1,000 extra dollars for doing nothing. Don’t let other providers take that money away from you. This really shows the value of a Free Lively HSA.

If you need more help with open enrollment decisions, check out our blog. We will make you a healthcare benefits expert in no time, without any extra work or effort on your end.

*Assumes $26 in HSA savings each year with 3% annual returns, over a 25 year period.

Lively

Lively

Lively is the modern HSA experience built for—and by—those seeking stability in the ever-shifting healthcare landscape. By harnessing modern innovation and deep industry expertise, Lively is committed to bridging today’s savings with tomorrow’s unknowns. Unlike traditional institutions hindered by bureaucracy, Lively’s commitment extends beyond initial set up to providing dedicated, ongoing support and education for every step. So each HSA can reach its maximum potential with minimal headache.

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Benefits

2023 and 2024 HSA Maximum Contribution Limits

Lively · May 16, 2023 · 3 min read

On May 16, 2023 the Internal Revenue Service announced the HSA contribution limits for 2024. For 2024 HSA-eligible account holders are allowed to contribute: $4,150 for individual coverage and $8,300 for family coverage. If you are 55 years or older, you’re still eligible to contribute an extra $1,000 catch-up contribution.

comparing hsa versus fsa

Benefits

What is the Difference Between a Flexible Spending Account and a Health Savings Account?

Lauren Hargrave · February 9, 2024 · 12 min read

A Health Savings Account (HSA) and Healthcare Flexible Spending Account (FSA) provide up to 30% savings on out-of-pocket healthcare expenses. That’s good news. Except you can’t contribute to an HSA and Healthcare FSA at the same time. So what if your employer offers both benefits? How do you choose which account type is best for you? Let’s explore the advantages of each to help you decide which wins in HSA vs FSA.

Benefits of HSA employer matching

Health Savings Accounts

Ways Health Savings Account Matching Benefits Employers

Lauren Hargrave · October 13, 2023 · 7 min read

Employers need employees to adopt and engage with their benefits and one way to encourage employees to adopt and contribute to (i.e. engage with) an HSA, is for employers to match employees’ contributions.

Disclaimer: the content presented in this article are for informational purposes only, and is not, and must not be considered tax, investment, legal, accounting or financial planning advice, nor a recommendation as to a specific course of action. Investors should consult all available information, including fund prospectuses, and consult with appropriate tax, investment, accounting, legal, and accounting professionals, as appropriate, before making any investment or utilizing any financial planning strategy.

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