Anytime I try to do my benefits the description isn’t helpful in explaining why it’s such a good investment move, aside from stating the obvious that it saves money incase you need it. Do I have to invest it? Or do you just let it sit? I’m confused
In: Economics
Basically, you put money into the HSA pre-tax, which lowers your taxable income. Then, you can use that money tax-free for eligible medical expenses, like doctor visits, prescriptions, and even some over-the-counter meds.
The great thing is, the money rolls over year after year, unlike some other health spending accounts and general insurance. So, it’s like a long-term savings plan for your health, with some nice tax advantages.
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