2020 HSA Changes: How Health Savings Accounts Can Help You
One of the best-kept secrets in financial planning is the health savings account. Not only do HSAs help you save toward one of the biggest costs you'll face in your lifetime -- healthcare expenses -- but they also give those who contribute to them some lucrative tax breaks that make them one of the most useful and beneficial tools you can add to your overall financial plan.
Every year, the rules covering health savings accounts change slightly, and most years, that gives HSA users a bit more of an opportunity to reap tax savings. Unfortunately, the 2020 HSA changes aren't expected to make it easier for people to qualify for using the accounts, but there's been a drive among policymakers to make HSAs more readily available to a larger portion of the American public.
Image source: Getty Images.
Source Fool.com
