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Tax Benefits of Health Savings Accounts

  • Your HSA contributions are tax deductible.
  • HSA Contributions made by your employer are excluded from your income.
  • HSA earnings are tax deferred.
  • If used for qualified medical expenses, HSA assets are tax-free.
  • HSA assets become the property of a named beneficiary, or of the HSA owner's estate upon an HSA owner's death. A spouse beneficiary may treat the HSA as his or her own, while non-spouse beneficiaries must treat inherited HSA assets as ordinary taxable income.