| Insurance Health Savings Account (HSA) Qualified HSA contributions can be deducted from your gross income on your federal tax return, even if you do not itemize deductions. Many states also allow the deduction from state income taxes. Funds left to accumulate in your HSA can grow tax-deferred. You can use these savings to pay for your annual deductible or other qualified health care costs not covered by your insurance. Even if you change jobs, your HSA funds go with you. You own your account. You can choose to let the funds in your account grow tax-deferred. After age 65, you may make withdrawals from your HSA for any reason without a penalty. (You will pay income tax on non-medical withdrawals.) |
|---|
Web site Design Lisa Harrison
Securities offered through Kovack Securities, Inc tel 954.782.4771 Member NASD/SIPC