What Can I Do with a HSA Account? - Your Guide to Making the Most of Your Health Savings Account

Health Savings Account (HSA) is a valuable financial tool that can help you save money on healthcare expenses in a tax-advantaged way. But you might be wondering, what exactly can you do with a HSA account?

Here are some of the things you can do with a HSA account:

• Save for future healthcare expenses
• Pay for current healthcare expenses
• Invest your HSA funds for potential growth
• Use HSA funds for non-medical expenses once you turn 65 without penalties (though taxes apply)
• Transfer your HSA funds to your spouse upon your death tax-free
• Take your HSA funds with you if you change jobs or health insurance plans

With all these options, a HSA account can provide you with flexibility and control over your healthcare finances.

A Health Savings Account (HSA) is not just a savings tool; it's a smart investment for your health future. With an HSA, you can save for future healthcare expenses and pay for current ones while enjoying tax benefits. Curious about what else you can do with it?

Here are some unique ways to maximize your HSA:

• Save for substantial medical expenses like surgeries or long-term treatments.
• Cover everyday costs such as doctor visits, prescriptions, and even dental and vision care.
• Invest your HSA funds in stocks or mutual funds for potential tax-free growth.
• After age 65, utilize your HSA for non-medical expenses without penalty, providing some financial flexibility (taxes still apply).
• Transfer the remainder of your HSA to your spouse in a tax-efficient manner upon your passing.
• Keep your HSA intact even if you change jobs or healthcare plans, ensuring continuous access to your funds.

Understanding these options can empower you to control your healthcare finances effectively.