For a full list, see IRS Publication 502. Employees can arrange contributions on their. If you have a high-deductible health insurance plan, consider opening an HSA and taking advantage of these valuable tax benefits. Here are some of the expenses that can be covered with HSA funds. An HSA helps individuals with qualifying high-deductible health plans pay for current and future medical expenses. In summary, an HSA offers a powerful way to save money on your taxes and prepare for future medical expenses. This can help you stretch your retirement savings further! Once you reach age 65 (or your retirement age), you can use your HSA funds to pay for non-medical expenses, such as groceries and housing, without incurring any taxes.
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