Health Savings Account (HSA) Facts
Unlike Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) do not need to be emptied each year and can serve as a long-term investment vehicle. In fact, HSAs offer a very attractive ‘triple’ set of potential tax benefits: 1) federal tax-deductible and FICA-free contributions, 2) tax-free growth, 3) tax-free withdrawals for qualified medical expenses. Below are details on these tax benefits.
