Hello, I wanted to share this article as I know many Alphamint clients will find it useful. If we have yet to talk about this already, I strongly suggest if your employer offers an HSA, consider that Health Insurance Plan. There are caveats to this because often times a family’s medical needs must take priority, but for those who are in good health and have the ability to max out their HSA contributions, consider it.
Here is why an HSA is an excellent choice to reduce your tax footprint:
- You pay no penalty if used for Health Care (which in retirement, trust me you will have health care expenses)
- No taxes when you take it out
- No taxes when you put it in (a pre-tax deduction from payroll).