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The Finance Gourmet

Personal Financial Advice from a former Certified Financial Planner

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Health Care Portal Open 2023 But Hurry

January 16, 2023December 18, 2022 by Finance Gourmet

The Federal health care portal, HealthCare.gov, has been reopened for 2023. This means that people who live in the 36 states that use HealthCare.gov as their health care insurance portal have until January, 16th to enroll in a health care plan. Health Care and Financial Independence Achieving financial independence without …

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Categories Insurance Tags health care, health insurance, health savings account
medical-taxes

What Is The Difference Between FSA and HSA?

April 28, 2021February 26, 2021 by Finance Gourmet

There is a lot of confusion around the difference between an HSA and a FSA. HSA stands for Health Savings Account. FSA stands for Flexible Spending Account, or sometimes, Flexible Spending Arrangement. Both types of medical savings accounts are tax-advantaged ways to save and pay for various medical expenses, but …

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Categories Personal Finance Tags employee benefits, flex account, flexible spending account, fsa, health insurance, health savings account, hsa, Insurance, medical deduction, medical expenses, Tax Deductions, Tax Tips, Taxes
HSA Contribution Limits 2020 and 2021 1

HSA Contribution Limits 2020 and 2021

January 29, 2021June 12, 2020 by Finance Gourmet

A health savings account, or HSA, is a great way to save money for medical expenses. If you qualify for an HSA, you get to deduct every dollar in contributions up to the HSA contribution limit. If you pay your medical expenses with an HSA, it ends up that you …

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Categories Personal Finance Tags health savings account, hsa, medical deduction, medical expenses, Tax Deductions, Taxes
investing in hsa account calculator

Should I Invest Money in My HSA Account?

December 13, 2016 by Finance Gourmet

A Health Savings Account, or HSA, is a tax-advantaged way to save money for health care costs. An HSA account is different from a Flexible Savings Account, or FSA, that many people are more familiar with. For most people with qualifying health insurance plans, an HSA is better than an …

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Categories Insurance Tags Deductions, health insurance, health savings account, hsa, Insurance, Taxes
withdraw hsa debit card atm other

Procedure for Using HSA Account To Pay Medical Expenses

August 23, 2016 by Finance Gourmet

I’ve written a bit lately about Health Savings Accounts, or HSAs, how HSAs work with state taxes, and the difference between Health Savings Accounts and Flexible Spending Accounts. But, the one question I keep getting is how exactly to use a HSA account. The Health Savings Account Theory The idea behind …

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Categories Insurance, Financial Planning Tags health insurance, health savings account, hsa, medical deduction, medical expenses, Tax Deductions, Tax Tips, Taxes
health savings accounts hsa

Health Savings Accounts State Taxes

July 6, 2016 by Finance Gourmet

We’ve discussed before how much of a benefit a Health Savings Account, or HSA, can be for saving money on your taxes. Contributions to an HSA are tax deductible for federal income tax purposes, or in the case of pre-tax contributions, they are simply not part of your income for …

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Categories Insurance Tags Federal Income Taxes, health savings account, hsa, income tax, income taxes, Insurance, Tax Deductions, Taxes

Which Is Better HSA or FSA?

May 11, 2016 by Finance Gourmet

Which is better a flexible spending account or a health savings account? The answer to which is better between a health savings account or flexible spending account depends, unfortunately, on the specifics in which they are setup. However, it is relatively simple to determine which is better an FSA or …

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Categories Insurance Tags Deductions, Federal Income Taxes, flexible spending account, fsa, health insurance, health savings account, hsa, income tax, income taxes, Insurance, pre-tax

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