The IRS has announced the new health savings account limits for 2022. Next year, individuals can set aside $3,650 in tax-free funds to save for the future or pay for qualified medical expenses (up $50 from last year). Learn more about the updates in this post.
Parenting and motherhood are some of the greatest joys in life, but it does require some financial planning! Thankfully, HSAs and FSAs exist to help parents offset the cost of medical expenses for their kids and themselves, and there is a long list of items and services that are eligible for every stage of childrearing. Check out all the eligible items in this post.
While HSAs make it easy to manage your saving and spending, there are some old misconceptions hanging around. In this article, we take a look at fact vs. fiction to dispel myths surrounding HSAs and who could benefit from this type of health care benefit account!
In this article we’ll cover some of the basics of what an HSA beneficiary is and why it’s a good idea to designate one as part of a secure and well-rounded financial future.
On March 26 the Internal Revenue Service (IRS) released IRS Announcement 2021-7, which states that personal protective equipment such as masks, hand sanitizer, and sanitizing wipes that are purchased “for the primary purpose of preventing the spread of COVID-19” (COVID-19 PPE) are qualified medical expenses under Section 213(d) of the Code.
In this article, we cover what employers and HR reps should consider when determining if a traditional or high deductible health plan (or a combination or both) would be best for their organization.
We all start a new year with the best of intentions—exercise more, eat better, get a restful night’s sleep…or maybe even save money. By now, you may already need to renew those resolutions. If you’re looking to make the most of your health savings account (HSA) this year, here are five HSA tips that will help you prioritize your health to wealth strategy and make the rest of your year healthier, calmer, and perhaps even more…predictable!
The news of the COVID-19 vaccines has everyone crossing their fingers and hoping there may be an end in sight to the pandemic. That said, we still have to get through the winter months with the normal cold and flu season kicking into high gear. On the bright side, you can create a COVID-19 tool kit for your home using your tax-advantaged flexible spending account (FSA) or health savings account (HSA)!
If you have a health savings account (HSA) and taxes to file this 2021 tax season, this guide is for you. Learn about HSA tax responsibility and which IRS forms you may need to correctly file your tax return with an HSA.
An HSA is a special savings account that lets you pay for medical, dental, and vision expenses or save and invest that money tax-free. It’s like a 401(k) for health care—a tax-advantaged account you can use today or save for later. Here’s what you need to know about Individual Health Savings Accounts (HSAs) to decide if it’s right for you!