Here are all the articles I've written about Health savings account. Enjoy!

December 14th, 2009

The Magic of Health Savings Accounts – what you need to know

The Insurance Mom wants you to be a good little money manager.

Think of an HSA like an IRA, but for medical expenses… and dental, vision, prescription and over-the-counter expenses too!

** Contributions to your HSA are tax-deductible — reduce your taxable income, pay less taxes.   Very nice.

** Your money earns interest tax free, so your interest earns interest.   Even nicer.

** You can withdraw money tax free to pay for medical, dental, vision, prescription and over-the-counter expenses.  Very, very nice!

If you’re saving and spending tax-free dollars, then you’re boosting the buying power of each dollar by 30%, because you’re not paying taxes on that dollar.   Right?   You get more bang out of each buck.

By increasing the buying power of each dollar by 30%, you reduce your health insurance deductible by 30%.   Right?

Contributions you make to an HSA are yours to use for eligible expenses whenever you like, this year, next year or the year after.   You never lose the money; you keep contributing, building a nice little stash of tax-free cash.

Ask The Insurance Mom if your plan is compatible with an HSA… you’ll be glad you did!   Or, visit for more comprehensive information, including a long list of HSA-eligible expenses.

Go forth and save!

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