HSAs, as the name implies, are accounts established specifically to pay for qualified health care expenses, including things like deductibles, copays, and medications. Contributions are not subject to taxation. Earnings and interest aren’t either. The money you contribute stays in the account until you need it. And withdrawals are tax-free, as long as they’re for your family’s medical expenses. Best of all, there’s no insurance middleman between you and your health care spending decisions. Meaning you can use your HSA for the type of coverage you want – not just what your insurance company wants. Unfortunately, due to government rules, 9 in 10 Americans are unable to take advantage of these accounts. Recent record inflation increased costs for everything — especially health care. HSAs are a great way to lower costs and increase choice! Take a minute to sign the petition in support of HSAs as part of a Personal Option for health care. |