Sentences with phrase «save for qualified medical expenses»
A Health Savings Account (HSA) from Granite Credit Union is a tax - advantaged savings account designed to help you save for qualified medical expenses.
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Effective Jan. 1, 2004, individuals (under age 65) may establish Health Savings Accounts (HSAs)- custodial accounts allowing them to save for qualified medical and retiree health expenses on a tax - free basis.
An HSA can be used not only to pay out - of - pocket qualified medical costs, and save for future medical expenses, but also allows your unused savings to accumulate from year - to - year, and ultimately be used in your retirement!
A qualified distribution requires that you be age 59.5 up or disabled (or dead and the distribution to your beneficiary or estate) or some cases that the legislators decided it's okay for you to break the implied deal that you get the tax break only if you save for retirement: unusually high medical expenses, higher education, buying a first home, reservist called to active duty.
Health Savings Accounts (HSAs) can be a smart way for you to save money tax free for qualified medical expenses.
If you have a high - deductible health plan, a Health Savings Account (HSA) is the perfect vehicle to save tax - free earnings and make tax - free withdrawals for qualified medical expenses.
Use the funds to pay for qualified medical expenses or save money in your account for future needs.
You save money in your HSA for qualified out - of - pocket medical expenses or maybe for retirement.
Take the worry out of paying for healthcare expenses and save for your qualified medical costs with with the First Internet Bank Health Savings Account (HSA).
Individuals with qualified high - deductible health plans (HDHPs) can enjoy the benefits of a tax - advantaged investing account while saving for many out - of - pocket medical expenses.
A Health Savings Account allows individuals to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax - free basis.