Understanding HSAs
Make the most of your Health Savings Account
Benefits of HSAs
- Triple tax advantage: contributions, growth, and qualified withdrawals are tax-free
- Funds roll over year to year
- Can be used as a retirement savings vehicle
- Portable between employers
- Investment options available
Qualified Expenses
- Medical expenses
- Dental care
- Vision care
- Prescription medications
- Some over-the-counter items
2024 Contribution Limits
- Individual: $3,850
- Family: $7,750
- Age 55+ catch-up: Additional $1,000