"Unlocking the Power of Health Savings Accounts: A Comprehensive Guide"

Health savings accounts (HSAs) offer a triple tax advantage and can be used to pay for various health-related expenses. While the ideal strategy is to fully fund the HSA and use it for future healthcare costs in retirement, there are cases where HSA funds can be applied to insurance premiums. These include COBRA premiums, health premiums while on unemployment, Medicare premiums (excluding Medigap plans), and long-term care insurance premiums. However, there are certain limitations and qualifications for each scenario.