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Health Savings Accounts (HSAs) offer triple tax benefits you don’t want to miss!🏥💡 Contributions are tax-deductible, withdrawals for medical expenses are tax-free, and the growth in your HSA is tax-exempt. Set one up through your insurer or institutions like Schwab or Fidelity and start investing in your future health! 💰📈 #HSATips #TaxBenefits #SmartSaving

Health Savings Accounts (HSAs) are powerful tools for tax savings, but common mistakes can diminish their benefits. Mistakes like exceeding contribution limits or mismanaging eligible expenses can lead to penalties and lost savings. Do you feel confident that you're maximizing your HSA's benefits? #HealthSavingsAccount #TaxSavings #TaxPenalties https://lnkd.in/eBB9FtuJ

Last week, the IRS announced 2025 inflation-adjusted amounts for health savings accounts (HSAs) in its Rev. Proc. 2024-25. Updates for next year include increases for HSA contribution limits, minimum deductibles, and out-of-pocket maximums. For a full breakdown of the adjustments and a better understanding of how the IRS calculates these adjustments, check out our latest blog post. #HSA #HealthSavingsAccount

Are HDHPs with HSAs worth the extra cost for the self-employed? #HSA #healthinsurance #HDHP #taxliability #retirementaccount Considerations for Switching to an HSA-Eligible Plan If you are self-employed and looking to optimize your tax advantages while also planning for your future healthcare needs, the decision of whether to switch to a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) is an important one. Current Financial Snapshot At... Source: https://lnkd.in/g2C8N8W3 #mymetric360

Health Savings Accounts (HSAs) are tax-advantaged accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP). The IRS annually adjusts HSA and HDHP amounts for inflation. For 2025, the maximum HSA contribution amount for individuals will be $4,300 ($4,150 for 2024) and $8,550 ($8,300 for 2024) for family coverage. The minimum HDHP deductible for individuals will be $1,650 ($1,600 for 2024) and $3,300 for family coverage ($3,200 for 2024). The maximum HDHP out-of-pocket cost will be $8,300 for self-coverage ($8,050 for 2024) and $16,600 for family coverage ($16,100 for 2024).

Health Savings Accounts (HSAs) are tax-advantaged accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP). The IRS annually adjusts HSA and HDHP amounts for inflation. For 2025, the maximum HSA contribution amount for individuals will be $4,300 ($4,150 for 2024) and $8,550 ($8,300 for 2024) for family coverage. The minimum HDHP deductible for individuals will be $1,650 ($1,600 for 2024) and $3,300 for family coverage ($3,200 for 2024). The maximum HDHP out-of-pocket cost will be $8,300 for self-coverage ($8,050 for 2024) and $16,600 for family coverage ($16,100 for 2024).

Health Savings Accounts (HSAs) are tax-advantaged accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP). The IRS annually adjusts HSA and HDHP amounts for inflation. For 2025, the maximum HSA contribution amount for individuals will be $4,300 ($4,150 for 2024) and $8,550 ($8,300 for 2024) for family coverage. The minimum HDHP deductible for individuals will be $1,650 ($1,600 for 2024) and $3,300 for family coverage ($3,200 for 2024). The maximum HDHP out-of-pocket cost will be $8,300 for self-coverage ($8,050 for 2024) and $16,600 for family coverage ($16,100 for 2024).

Health Savings Accounts (HSAs) are tax-advantaged accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP). The IRS annually adjusts HSA and HDHP amounts for inflation. For 2025, the maximum HSA contribution amount for individuals will be $4,300 ($4,150 for 2024) and $8,550 ($8,300 for 2024) for family coverage. The minimum HDHP deductible for individuals will be $1,650 ($1,600 for 2024) and $3,300 for family coverage ($3,200 for 2024). The maximum HDHP out-of-pocket cost will be $8,300 for self-coverage ($8,050 for 2024) and $16,600 for family coverage ($16,100 for 2024).

Health Savings Accounts (HSAs) are tax-advantaged accounts funded with pretax dollars. Funds can be withdrawn tax-free to pay qualified medical expenses. An HSA must be coupled with a high-deductible health plan (HDHP). The IRS annually adjusts HSA and HDHP amounts for inflation. For 2025, the maximum HSA contribution amount for individuals will be $4,300 ($4,150 for 2024) and $8,550 ($8,300 for 2024) for family coverage. The minimum HDHP deductible for individuals will be $1,650 ($1,600 for 2024) and $3,300 for family coverage ($3,200 for 2024). The maximum HDHP out-of-pocket cost will be $8,300 for self-coverage ($8,050 for 2024) and $16,600 for family coverage ($16,100 for 2024).

Discover the powerful benefits of a Health Savings Account (HSA)! A HSA can be a game-changer for your financial and healthcare future. Reach out to learn more about how an HSA can benefit you. BankEncore.com #FinancialFuture #HSA #EncoreBank