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Kiplinger
Kiplinger
Business
Kelley R. Taylor

An HSA Sounds Great for Taxes: Here’s Why It Might Not Be Right for You

Rendering of a piggy bank with the word HSA and a stethoscope on it.

Open enrollment season is here, bringing with it the annual rush of decisions about health insurance and related benefits. For many, one option often rises above the rest: the Health Savings Account (HSA).

Why? Because of the HSAs’ so-called “triple tax advantage.” That includes pre-tax contributions, tax-free investment growth, and tax-free withdrawals for qualified medical expenses.

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