Can I Keep My HSA in 2019? Understanding the Basics of Health Savings Accounts

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses and saving for the future. If you have an HSA, you may be wondering if you can keep it in 2019. The good news is that, yes, you can keep your HSA and continue to benefit from its advantages. However, there are some important things to keep in mind to make the most of your HSA.

HSAs offer a unique way to save for medical expenses while enjoying tax advantages. Here are a few key points to consider:

• Contributions to your HSA are tax-deductible, reducing your taxable income.
• Any earnings and interest on the funds in your HSA are tax-free.
• Withdrawals for qualified medical expenses are also tax-free.
• You can carry over your HSA balance from year to year, so there's no need to worry about losing your funds at the end of the year.

It's essential to understand how HSAs work and how to maximize their benefits. By keeping your HSA in 2019, you can continue to build savings for future healthcare needs and enjoy tax advantages along the way.

Health Savings Accounts (HSAs) are not just a smart way to manage healthcare costs; they also serve as a financial cushion for unexpected medical expenses. If you have an HSA, rest assured that you can continue to keep and grow it throughout 2019. It’s like having a savings account specifically designed for health-related costs, and it offers unique tax benefits that make it even more appealing.