Tax Deductions For Your HSA
Learn How to Reduce Your 2014 Taxes by $2,064 or More With a Health Savings Account!
The contribution you make to your health savings account (HSA) is 100 percent tax-deductible up to a limit of $6,550 for a family and $3,300 for an individual. Your HSA-qualified health insurance must be in place by December 1st in order to qualify for a current year tax deduction. Therefore, we recommend getting your application submitted no later than November 30th.
You can withdraw money from your account at any time. If the money is used to cover medical expenses, you never pay any taxes on it. Any money not used grows tax-deferred, like an IRA. IMPORTANT: you must have your HSA insurance in place before December 1st in order to qualify for this valuable tax deduction for 2014.
HSA Federal Tax Deduction Information
- Tax Advantages of a Health Savings Account
- HSA Tax Deductible Contributions
- Tax-subsidized Expenses of an HSA
- HSA Premium and Tax Savings
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