Health Savings Account (HSA)
I will start this off by saying that HSA are available only to those that are enrolled in a high deductible health plan.
Limits in 2022
Single persons can deduce $3,650 per year where a family can deduce $7,300.
What can I spend this money on?
A few things that are covered are deductibles and copays, pharmacy supplies, hygeine products
Pros
- Tax Free contributions and Tax Free spending
- Employer can contribute
- Money in HSA can be invested