Hot Tips for Health Savings Accounts

A top 10 list: Reasons why employers and employees should establish a Health Savings Accounts (HSAs)

10. HSA-eligible high-deductible health plans can save premiums for both employers and employees.

9. HSAs belong to the account holder and are retained by the participant when changing jobs.

8. HSAs contributions are non-taxable.

7. HSA growth through interest and dividends are non-taxable.

6. Disbursements for qualified medical expenses are non-taxable.

5. There is no dollar limit to the amount that may accumulate in an HSA.

4. The maximum annual contribution may be deposited into an HSA even if it is established mid-year.

3. HSAs roll forward from year to year. Funds can accumulate for expenses incurred during retirement or under Medicare.

2. Anyone, including both the employer and the employee, can contribute to an individual’s HSA during the year.

1. HSAs indexed figures are released earlier than any other benefits’.

Here are the 2018 HSA limits: Click Here