This section focuses on specific ways that you can maximize the value of your HSA. It is important to understand these strategies when you first become HSA-eligible since many of them allow you to reap benefits years into the future if you know how to act now.
As with qualified retirement plans and other tax-favored accounts, individuals who know very little but just participate can reap some tax benefits. On the other hand, individuals who take their knowledge to the next level can experience many times the tax savings and degree of financial freedom because they understand how to make these accounts work for them as part of their overall financial strategy.My book, the HSA Owner’s Manual, goes into detail on each of these concepts that allow you to turbocharge your tax savings and account balances. Each strategy by itself, if you apply it to your particular situation, can increase your tax savings and personal wealth accumulation. Some of these strategies, when used in concert, will take you to an even higher financial plane.
For more in-depth content become a member, buy the HSA Owner’s Manual by Todd Berkley or ask a question specific to your situation with Ask Mr HSA custom answer service.