Big Boost to HSA, HDHP Limits in 2024 Given by the IRS
Posted: May 24, 2023
What are Health Savings Accounts (HSAs) Health savings accounts (HSAs) are a special tax-advantaged account that helps you save money for the future medical and health-related expenses - tax free. How HSAs Work Withdrawals from HSAs to pay qualified medical expenses are tax free. HSAs offer a triple tax benefit: HSA contributions are pretax. That is, you are not taxed on any of your contributions...
Do you know how to utilize an HSA as a strategy to pay for future expenses? Hello, yes you can use your HSA funds to pay for your part B premiums.
Posted: February 23, 2023
As we are headed into tax season, I wanted to remind people to try to put away money into their HSAs for the past year 2022, and take advantage of the key tax savings. If you are new to having an HSA for 2023 now is a great time to start planning for your future. According to Fidelity, the average American will pay $300,000 to...
When Should You Buy Life Insurance?
Posted: September 9, 2022
Life Insurance is a financial product that provides a lump sum cash payment, also known as the death benefit, when the insured passes away. The purpose of life insurance is to provide a financial benefit to dependents upon the premature death of an insured individual. Buying life insurance can protect your spouse and children from the financial hardships that could result if something happened to...