Maximizing Tax Savings: Unveiling the Power of Health Savings Accounts (HSAs)
Health Savings Accounts (HSAs) offer a triple tax break, with contributions being pre-tax, tax-deferred growth, and tax-free withdrawals for qualifying medical expenses. To maximize the benefits, it is recommended to pay medical bills out of pocket and use the HSA funds for investment and retirement savings. Employers typically provide an HSA card for medical bill payments, but reimbursement is also an option. HSAs can be invested, and if you wish to transfer your account, compare fees, minimum balance requirements, and investment options. In another topic, if you were named as the beneficiary of I Bonds, you can have them reissued in your name alone through TreasuryDirect.