[S1E12] Vincent Catalano: Why is an HSA the most efficient tax advantage?

Episode notes

Saving for your health is actually a tax advantage! An HSA (or Health Savings Account) is a savings account that is used purely for medical services. Unlike other accounts, you get a deduction on your taxes when you put money into the HSA and you don’t get taxed when you take money out of the HSA. It’s also not a use it or lose it system, it keeps “rolling over” forever. However, because of its tax advantages, there is a limit on how much you can put in. Depending on your health insurance, an HSA is a great supplemental tool to have. Keep an eye out for your HSA options next open enrollment! Disclaimer: This content is for educational purposes only. Please discuss your specific situation with your health benefits administrator or insurance provider for personalized guidance.

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