Health Savings Account
If you or your family are covered by a high deductible health insurance plan, you may benefit from a Health Savings Account (HSA). An HSA is a tax-favored consumer savings arrangement that permits tax-free distributions of principal and earnings if distributed amounts are used for qualified medical expenses.
- Take withdrawals without restrictions
- Distributions are not taxed when used to pay for qualified medical expenses
- Federal withholding does not apply to HSAs
- Withdrawals are subject to IRS regulations
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