are hsa accounts tax free
HSA Tax Benefits. There are three key tax benefits to a Health Savings Account (HSA). Money goes into and comes out of an HSA tax-free (as long as funds are used to pay for qualified medical expenses). Contributions to HSAs are not subject to federal income taxes.*. Earnings to an HSA from interest and investments are tax-free.
Learn How to Reduce Your 2016 Taxes by $3,350 or More With a Health Savings Account! The contribution you make to your health savings account (HSA) is 100 percent tax-deductible up to a limit of $6,750 for a family and $3,350 for an individual. Your HSA-qualified health insurance must be in place by December 1st in order to qualify for a current year tax deduction.