HSA Planning: Drawdown and Estate Planning
The IRS recently announced the annual HSA contribution limits for 2024: $4,150 for self-only coverage and $8,300 for family coverage. This is one of the most significant jumps in years and not surprising, given the latest inflation trends. And if you are 55 or older, you can tack on an additional $1000 catch-up contribution. What […]
The QHFD- What, Who, How and Why
We have lauded the benefits of Health Savings Accounts (HSAs) many times in past blogs. They can boost your retirement savings and be a great resource to cover medical expenses in retirement. In fact, a recent article in Forbes touts these savings vehicles as perhaps the best retirement planning tool available. A recap of the […]
HSA Portability- Bring your HSA With You!
If you read our blog titled The Long Term Power of the HSA, then you know that we are big proponents of Health Savings Accounts (“HSAs”). By taking advantage of all that HSAs can offer, you can really propel your savings forward and rest in peace knowing you have a plan to tackle your looming […]
The Long Term Power of the Health Savings Account
Health Savings Accounts (“HSAs”) are an underappreciated benefit offered to employees with high deductible insurance plans. The annual pre-tax contributions, which in 2017 are $3400 for individuals and $6750 for families, can be withdrawn tax-free at any time for medical expenses. Most people, however, fail to take advantage of the full benefit that these plans […]
Health Savings Accounts: What are they and should you have one?
Health Savings Accounts (“HSA”) first appeared in 2004 to help individuals save for current and future healthcare costs. Since then, HSA eligible insurance plans have been one of the fastest growing insurance plans offered as companies and individuals look for ways to reduce the burden of rising health care costs. The number of HSAs has […]