How to Save for Healthcare Expenses?
Are you aware that there are options for paying your medical bills that can help you save money? 💰 Medical expenses can be costly, making taking advantage of any available savings opportunities worthwhile. Two of the most common types of accounts are Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) 📋. With FSAs and HSAs, you can use pretax dollars to pay for healthcare expenses. The best part is that these accounts offer tax advantages that can help offset medical costs 📉. Today, we'll focus on Health Savings Accounts . In a future post, we will discuss Flexible Spending Accounts in more detail. So, what exactly is a Health Savings Account (HSA)? A Health Savings Account (HSA) is a special account that helps you save money 💰 for medical expenses. It is meant for healthcare costs 🏥. You will typically get a debit card 💳 that you can use for eligible expenses like prescriptions 💊, copays, doctor bills, and more. Who can contribute to an HSA? To con...
