3 things to know about health savings accounts

However, a small percentage of these plans also have the option of opening one of the hidden jewels of investment accounts: the Health Savings Account ... your deductible). Health Savings Accounts are a rare breed in that they are considered a "triple tax ...

(For related reading, see: Year-End Tax Planning for Your Investments.) However, did you realize that a health savings account (HSA ... it provides you with one of the largest tax breaks you can receive dollar-for-dollar. This is because pre-tax ...

What's more, because Roth distributions are considered nontaxable income, they can help keep your Social Security benefits from being taxed, too. The health savings account ... the HSA is the only account that gives you a triple tax advantage.

Now is the time to boost your retirement ... under proposed tax reforms. You can deduct everything you spend over that threshold (but you can't double dip and count expenses paid for with tax-advantaged FSA or health savings account dollars).

In our last article we discussed how a High-Deductible Health Plan (HDHP) + Health Savings Account (HSA ... are the ONLY investment accounts with “triple-play” tax savings: How much can you contribute to your HSA? In 2018, it’s $3,450 for single ...

Other tax-advantaged accounts don't offer three tax breaks. With traditional IRAs, 401(k)s and workplace retirement plans, your ... use it for health care. Because of the triple-tax advantages, workers may need to revamp their retirement savings strategy.

unlike a flexible spending account, the tax advantaged money (more on that below) is yours to grow and keep year after year, even if you leave your employer. 2. They come with triple tax benefits The appealing thing about health savings accounts ... 3 things to know about health savings accounts

This allows you to get a tax break while helping your money to grow faster for retirement. You also need to prepare for health care costs in retirement, and one powerful tool to help you do this is a health savings account ... can have a triple tax ...

Source : http://www.krdo.com/health/3-things-to-know-about-health-savings-accounts/488478311

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