35. Health Savings Accounts: What They Are and How to Use Them

A Health Savings Account can help you prepare for potential healthcare expenses and limit the impact they have on your finances. If you have a high-deductible health insurance plan, you probably have the option to contribute to an HSA.

The best thing about HSA funds is that they are tax-free! As long as you spend the money on legit healthcare expenses, you won’t pay federal taxes on contributions, earnings, or withdrawals. 

In this episode, I cover all the basics of HSAs. I’ve got some real-life examples and tips for making the most of your Health Savings Account.

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• Instagram: Hannah Moore (@everyday_money)