High-deductible healthcare plans can be unappealing thanks to that high deductible. However, high-deductible healthcare plans are increasingly being offered along with health savings accounts – which, along with their traditional uses (as short-term vehicles to cover out-of-pocket healthcare costs and as long-term savings vehicles for the “wealthy and healthy”) can be used in other ways that get less attention. Specifically,…
As Republican lawmakers haggle over the details of their Obamacare replacement plan, one thing that is certain is that, whatever the final product ends up being, health savings accounts (HSAs) will be a major component. And with them offering a “tax trifecta” of pre-tax contributions, tax-free growth and tax-free withdrawals (for qualified medical expenses), the use of HSAs has already…
Today’s article looks at how health savings accounts (HSAs) – already seeing significant growth in popularity – may flourish even more under president-elect Trump and Republican lawmakers. Specifically, the article looks at the proposals Trump and Congressional Republicans have for HSAs and how – if enacted – “people who use these tax-advantaged plans to pay for health costs as well…