06/12/2026
๐๐ถ๐ฑ ๐๐ผ๐ ๐ธ๐ป๐ผ๐ ๐ผ๐ป๐ฒ ๐๐ฆ๐ ๐ฐ๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป ๐ด๐ถ๐๐ฒ๐ ๐๐ผ๐ ๐๐ต๐ฟ๐ฒ๐ฒ ๐๐ฎ๐
๐ฏ๐ฟ๐ฒ๐ฎ๐ธ๐?
A ๐๐ฒ๐ฎ๐น๐๐ต ๐ฆ๐ฎ๐๐ถ๐ป๐ด๐ ๐๐ฐ๐ฐ๐ผ๐๐ป๐ (๐๐ฆ๐) is one of the most powerful โ and underutilized โ tax tools available. To be eligible, you must be enrolled in a qualifying high-deductible health plan (HDHP).
๐ญ. ๐ง๐ฎ๐
-๐๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ฏ๐น๐ฒ ๐๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป๐
Contribute to an HSA and receive a tax deduction. No itemizing required.
๐ฎ. ๐ง๐ฎ๐
-๐๐ฒ๐ณ๐ฒ๐ฟ๐ฟ๐ฒ๐ฑ ๐๐ฟ๐ผ๐๐๐ต
You can invest the funds held in your HSA. Any income earned grows tax-free.
๐ฏ. ๐ง๐ฎ๐
-๐๐ฟ๐ฒ๐ฒ ๐ช๐ถ๐๐ต๐ฑ๐ฟ๐ฎ๐๐ฎ๐น๐
Withdraw money tax-free for qualified medical expenses, whether as a direct payment or reimbursement.
๐ฎ๐ฌ๐ฎ๐ฒ ๐๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป ๐๐ถ๐บ๐ถ๐๐:
Self-only coverage: $4,400
Family coverage: $8,750
Age 55 or older: Add an extra $1,000 catch-up contribution
๐ ๐ณ๐ฒ๐ ๐ผ๐๐ต๐ฒ๐ฟ ๐๐ต๐ถ๐ป๐ด๐ ๐๐ผ๐ฟ๐๐ต ๐ธ๐ป๐ผ๐๐ถ๐ป๐ด:
1. You have until April 15th to contribute for the prior tax year
2. No required minimum distributions
3. You can reimburse yourself for medical expenses dating all the way back to when you opened the account
4. Qualifying businesses can include an HSA as part of a Section 125 Cafeteria Plan
5. Using funds for ineligible expenses results in taxable income (plus penalties if you are under 65)
๐ก Interested in learning whether an HSA is the right strategy for you? Contact our office today to schedule an appointment.
