5 reasons to have a Health Savings Account (HSA). A thread:
#Healthcare #Insurance #OpenEnrollment #taxes #retirement 1/6

1. All contributions are tax-free.
That means a few things. To start, it means the money you set aside will go further than setting aside money post-tax. 2/6

2. Tax-free earnings.
In an HSA, your money works for you, Any interest earned on your account is tax-free. When you factor in to power of compound interest over time, that can add up to very real gain. 3/6

3. Tax-free withdrawals.
Unlike an IRA or 401k, withdrawals from an HSA are generally tax-free. As long as the money is being used for qualifying expenses, the withdrawal is not taxed. 4/6

4. It’s not “use it or lose it.”
Any contributions stay in the fund as long as you choose for them to. Unlike a Flexible Spending Account, you won’t find yourself buying cases of Band-Aids at the last minute just because you have to 5/6

5. It’s portable.
Gone are the days of staying at one job for 30 years. In today’s era of career hopping and freelancing, an HSA can be a constant. When you switch jobs, it will come with you- again giving you flexibility and control over your money. 6/6