Archive of entries posted in December 2013

Health Savings Account—Things We Should Know

What is Health Savings Accounts (HSA)?

A health-savings account is a tax-favored account that you can contribute to before taxes. Contributions to an HAS are deductible, earnings in the health savings account are tax-exempt.  withdrawals from a health savings account are tax free as long as the money is used for qualified medical expenses.  Unlike with a flexible spending account, you do not have to spend the money by the end of the tax year. Continue Reading »