This video highlights the benefits and flexibility of Health Savings Accounts (HSAs). Below are some of those benefits:
- Triple Tax Advantage: Contributions, growth, and withdrawals for qualified expenses are all tax-free.
- No Expiration: Funds in an HSA roll over year to year without penalties, providing a long-term savings option.
- Portability: The account stays with the individual, not tied to any particular employer.
- Flexible Contributions: Amounts contributed to an HSA can be adjusted throughout the year to meet changing needs.
- Investment Opportunities: Once a certain balance is reached, funds can be invested, potentially increasing the account’s value.
- Broad Usage: HSA funds can be used for a wide array of health-related expenses, enhancing their utility for everyday health needs.
