DP Financial & Tax

A health savings account (HSA) provides a tax benefit for amounts that are contributed and used to pay qualified medical expenses of the account beneficiary, his or her spouse, and dependents. Contributions to the HSA account generally are either deductible or excluded from income. Distributions made from the account are not included in gross income if they are used exclusively for qualified medical expenses. HSAs can be established by an employee through an employer’s cafete

Seven tips for a sound strategy Health Savings Accounts (HSAs) have quickly risen in popularity over the past few years. In a nutshell, an HSA is a tax-advantaged savings account that is owned by an employee or self-employed person. According to the America’s Health Insurance Plans (AHIP), enrollment in health savings account/high-deductible health plans (HSA/HDHPs) totaled 19.7 million in January 2015, up from 17.4 million in 2014. Market forces are pushing employers and