With Washington being in the news a lot this year for healthcare and tax reform, wouldn’t it be nice if you didn’t have to wait around in limbo?
Tax-Free Health Care
What if I told you there was an HSA (health savings account) tax plan that allows you to use 100% tax-free dollars to save and pay for health costs. You could use this money to pay for qualified out-of-pocket medical expenses today or invest it to create substantial health savings to use in years to come. Want to know the best part of this HSA tax plan? It already exists and you can take advantage of it today.
100% tax savings is one reason HSAs are growing 16% year over year. If they aren’t part of your health savings, retirement or tax strategies they will be soon. HSAs offer a truly unique tax savings solution. HSAs allow individuals (and families) to contribute tax-free dollars (through payroll deductions, tax-free investment growth and tax-free deductions when used for qualified out-of-pocket medical expenses). This is a clear and direct path to saving more money when paying for health costs. Use an HSA to pay tax-free for health costs today, or in years to come.
Better than a 401k?
We don’t mean to suggest you shouldn’t open and contribute to your 401k (please speak to a financial or tax advisor to see what works best for you) but do want to highlight the tax advantages of the HSA. An HSA might have become a retirement savings vehicle by accident, but it enables HSA users to pay for the $275,000 of expected health costs (per couple) 100% tax-free in retirement. Coupling an HSA with a 401k adds new tax advantages and savings that can but your money to work. Save even more through tax-free HSA investments.
Tax advantages provide a direct path to make your money go further for current expenses or expenses in years to come. The multi-faceted nature of HSA tax advantages further extends the value and flexibility of this health savings option. See if you qualify and sign up for free today.
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.
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.