Do you mean a Health Savings Account? They aren't so special, but they are a nice tax shelter. You will be happy that you used an HSA when it comes time to file your federal taxes.
Like previously mentioned there are tax benefits to HSA's, but there are even more benefits. HSA's usually have a very low premium which is good, but to make up for this they have high deducitbles, which isn't all that bad if you tend to be a healthy person an don't go to the doctor much. Preventative exams are usually free. Also, a lot of times employers will contribute to your HSA account. I know an employer that contributes $1,000 per year for a plan that covers 2 adults. And the interest rate for HSA's is usually better than that of the typical savings account, plus even after you leave your employer, all the money in the account still belongs to you. Lastly, the money in the HSA account rolls over from year to year, unlike in a flexible spending account.
by SparklingJewel7 years ago
"It takes twenty years to build a reputation and five minutes to lose it. If you think about that, you will do things differently"-Warren Buffett In just six months, on January 1, 2011, the largest tax hikes...
by SPomposello6 years ago
Let's say your employer doesn't match anything with your 401k, and you have no issues with saving money, you don't have a million expenses... is there any point in having a 401k, iRA, or anything of that sort then?I've...
by Laura Tallo6 months ago
Why do people think that the number 11 has something to do with angels or the universe doing something good for you? I was born on November 11th, and my life hasn't been sprinkled with magic fairy dust, so what I am...
by Jessee R5 years ago
What is the best cuisine you have ever tasted and what was so special about it?
by Bobson St. Pierre5 years ago
It's easy to see what is special in others, my question to you is: What is special about you?
by Pamela N Red5 years ago
What is so special about steel cut oats?Why steel? I've seen this at health food stores and just wondered what was better about this process than whole oats.
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