Personal Financial Advice from a former Certified Financial Planner
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 …
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 …
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 …
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 …
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 …
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 …
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 …