Do I Get a Deduction if I Contribute Directly to My HSA?

Contributing directly to your HSA (Health Savings Account) can provide tax benefits, including a deduction on your annual taxes. When you contribute to your HSA, the amount you contribute is tax-deductible, meaning it can lower your taxable income for the year.

Here's how it works:

• Contributions made to your HSA are considered an
  

  Contributing directly to your Health Savings Account (HSA) not only helps you set aside funds for medical expenses but can also offer significant tax advantages. When you contribute, the amount is tax-deductible, reducing your taxable income for the year.

  This deduction is considered an 'above-the-line deduction,' which means it’s subtracted from your total income to determine your adjusted gross income (AGI). This benefit is available to all eligible individuals, regardless of whether you choose to itemize your deductions.