Updated: Nov 17, 2022
I recently saw an article on Facebook mentioning Donald Trump’s HSA, or Health Savings Account. I was glad to see people talking about the HSA accounts because these accounts – although not well-known to most of the US are widely used by the wealthy – have saved me and my clients thousands through the years.
Here’s how it works (and in case you’re wondering, HSA accounts are completely legal):
If you have health insurance with a high deductible, you are eligible for an HSA account. If you set up the account, you can put up to $3300 if you’re single or $6500 if you’re married in your HSA account and it is TAX-FREE!
It may not seem like much for the first year… but you can do this every single year. Imagine how much you will have saved after 5, 10, or 15 years!
The details of the HSA account do get a little complicated, which is why I educate my clients in regular seminars and encourage them to learn as much as they can about how this system works.
Click here to learn more.
Click here for frequently asked questions.
Click here to begin the online application process for your own HSA account. There are no set-up fees, and an initial deposit is not required to open an account. And it takes less than 10 minutes to complete the application.
If you are interested in learning more, you can connect with me by contacting my office for more information.
We’re here to help!
Regards, Ilona Dovidaitiene, EA
Enrolled to practice before the IRS Public Notary, QB Proadvisor United States Tax Services United States Insurance Services