Here are some links to some helpful HSA (health savings account) resources:
First, here is a helpful list of what items qualify as health-related expenses in the eyes of the IRS. These are things you can utilize money in your HSA to purchase without losing your tax advantage or paying a penalty. Note, many of these things would not be covered by your high-deductible health insurance policy (such as acupuncture or chiropractic), meaning they would not count towards your deductible. The tax-advantaged HSA can take your dollars further for these purchases, however, providing yet another advantage of a health savings account.
Here is an interesting chart examining how an HSA can influence one’s income/cash flow on a $40,000 salary.
If you have questions about HSAs or HSA-qualified health insurance plans, or would like a quick no-obligation quote, contact AC Forrest.