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HSA Strategies: Unlocking the Full Benefits of Your Health Savings Account

Are you enrolled in a Health Savings Account (HSA)? In addition to being used for immediate medical expenses, it provides tax advantages and can be used as an additional retirement tool. Jason reviews the requirements for an HSA, such as enrolling in a high-deductible health plan and the potential to invest contributions for long-term growth. He also introduces the concept of a Limited Purpose Flexible Spending Account (FSA), which can complement an HSA by covering specific health expenses like dental and vision care.

Tune into this episode to also learn:

  • How HSAs can be strategically used for both immediate and long-term health expenses
  • The criteria and benefits of enrolling in a high-deductible health plan to qualify for an HSA
  • The advantages of investing in HSA contributions to build additional retirement savings
  • Understanding the role and benefits of limited-purpose FSAs in conjunction with HSAs, specifically for dental and vision expenses

What we discussed

  • [00:01:14] Eligibility criteria for HSAs
  • [00:02:12] Using HSAs as an investment tool for retirement.
  • [00:03:16] Strategy for utilizing HSAs for future health expenses.
  • [00:05:07] Eligibility and usage of Limited Purpose FSAs

3 Things To Remember

  1. HSAs offer tax advantages and can be used for immediate and future health expenses.
  2. Investing in HSA contributions can provide additional retirement savings.
  3. Limited Purpose FSAs are valuable for covering specific health costs, complementing HSAs.

Useful Links

Connect with Jason Gabrieli: [email protected] | LinkedIn

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HFM Investment Advisors, LLC is a registered investment adviser. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. All investments involve risk and are not guaranteed. Information expressed does not take into account your specific situation or objectives and is not intended as a recommendation appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment advisor to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

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