This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. A health savings account (HSA) allows you to save and ...

HSAs provide excellent tax benefits; the IRS, however, requires information reporting to make sure individuals follow the rules. The account owner’s role in this process is to attach IRS Form 8889 to ...

The 5498-SA is the IRS form that reports all contributions to your HSA for the prior year (2023), including those contributed between Jan. 1 and the tax filing deadline of the current year. It also ...

Paired with high-deductible healthcare plans, health savings accounts help ease healthcare costs. HSAs are a triple tax-advantaged vehicle in the tax code, allowing for pretax contributions, tax-free ...

This guide details important mistakes to avoid when using your health savings account for a better financial return in ...

The Treasury Department and the IRS released guidance earlier this month that outlines new tax benefits for Americans who own a health savings account (HSA) under the tax package that President Donald ...

So I set up an HSA last year to go along with my high-deductible health insurance from work. I have the HSA at the same credit union where the rest of my banking is done. The account is completely in ...

(1) HSA account owners that were HSA eligible on the first day of the last month of their tax year must meet a testing period (December 1 for calendar year taxpayers). This includes people that just ...

Medical expenses can take a big bite out of your wallet. A couple of special accounts, however, are good remedies for both your doctor and tax bills. A medical flexible spending arrangement is a ...