Help yourself to a Health Savings Account

We don't yet know what will remain of the Affordable Care Act and what may replace it. But one thing is still in place and can save you help you to save up to 30% of medical expenses.

Health Savings Accounts (HSAs) are funded on a pre-tax basis. This means that you can reduce your tax obligation on the amount contributed to the account by your ordinary Federal tax rate and, in most states, your State tax rate.

Another benefit is that your can use your HSA to save for retirement, even investing the funds as you might an IRA. HSA funds belong to you and never expire.

In 2017, you can contribute up to $3,400 if you have single coverage or $6,750 if you have family coverage. If you are age 55 or older, you can contribute an additional $1,000 catch up contribution each year.