As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 18 years. With the January 11 release of the December inflation figures by the Bureau of […]
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 17 years. With the April 12 release of the March inflation figures by the Bureau of […]
by Roy Ramthun, “Mr. HSA” One of the better things about a Health Savings Account (HSA) is you don’t have to figure out how much to contribute before the beginning of the calendar year, and you can change your mind during the year. You can even wait until the year is over to figure out […]
by Roy Ramthun, “Mr. HSA” Health Savings Accounts (HSAs) are a valuable tool for saving money on health care costs, but they can also be an effective way to save for retirement. HSAs offer several tax advantages that make them a unique complement to traditional retirement planning. Here are some key benefits of using an […]
A Health Savings Account (HSA) is a tax-advantaged account that is used to save money for qualified medical expenses, such as doctor visits, prescription drugs, and hospital stays. Similar to the case with Individual Retirement Accounts (IRAs), older individuals who are HSA-eligible are permitted to make additional “catch-up” contributions of $1,000 annually starting with the […]
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 17 years. With the January 12, 2023 release of the December inflation figures by the Bureau […]
Here’s something we are often surprised to find out as we dive deeper into how HSA providers handle this topic: – most make mistakes when handling reversals. Sure, everyone knows most credits are contributions, and those count towards the annual max. And here starts another challenge, not all will enforce the statutory maximum contribution limit. This means, they […]
As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 15 years. With the January 13 release of the December inflation figures by the Bureau of […]