Taxpayers receive a 100% income tax deduction on annual contributions, they may withdraw HSA funds tax-free to reimburse themselves for qualified medical expenses, and they may defer taking such reimbursements indefinitely without penalties.
HSAs are unique - “IRAs on Steroids” - with triple tax advantages:
Tax-free accumulation of interest and dividends tax-free, and
Tax-free distributions for qualified medical expenses.
480 E. Winchester St. Suite 230 — Salt Lake City, UT 84107
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. PeopleKeep, Inc. does not sell health insurance.