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Is a Health Savings Account right for you?
September 22, 2021
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. Here are the main tax benefits: Contributions made to an HSA are deductible, within limits, Earnings on the funds in the HSA aren’t taxed, Contributions your employer makes aren’t taxed to you, and Distributions from the