2021 HSA Changes: Use Health Savings Accounts If You Can
Health savings accounts (HSAs) are a great way to get valuable tax breaks in exchange for setting aside money for future healthcare expenses. Unfortunately, they're only available to those who have specific types of health insurance plans with high deductibles. But for those who qualify, the tax benefits are so lucrative that many people use HSAs as long-term investing vehicles with the intent of paying healthcare expenses in retirement.
At present, the IRS doesn't expect major changes to the provisions governing health savings accounts. As a result, only small inflation-related adjustments are likely to apply to HSAs in 2021. Below, we'll look more closely at those new figures and whether more dramatic changes could come in the future.
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Source Fool.com
