Benefits of an HSA!

Below are some of the benefits you may enjoy from having an HSA:

  • You can claim a deduction for contributing to an HSA plan even if you do not itemize on Sch 1040.
  • You can exclude from your gross income, contributions made to the HSA plan by your employer.
  • The contributions add up in your account until you use them.
  • The interest and earnings on the contributions are tax-free.
  • You may take tax-free distributions to pay for qualified medical expenses.
  • You may take your HSA with you if you change employers.
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