Think of it as a 401(K) for Health Care
Kevin McKechnie, Executive Director of the ABA’s Health Savings Accounts Council
(Washington D.C., Wednesday, March 8, 2017) – In his recent speech to Congress, President Trump described one of his main plans in replacing the Affordable Care Act – expanding health savings accounts (HSA).
What exactly is an HSA? How do they work? Who is qualified? What about tax advantages?
An HSA is a tax-free savings account that’s paired with a high deductible health insurance plan to pay for routine medical expenses. Think of it as a 401(k) for health care.
Kevin McKechnie with ABA discusses:
- How does an HSA work?
- Do I qualify for an HSA?
- 2017 HSA limits
- HSA Tax Advantages