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Effectively manage medical expenses with an HSA

September 13, 2018

Medical expenses pile up fast. But there are ways to make paying them more manageable and cost-effective. If you have a high deductible health plan, you can open a health savings account (HSA) account to pay your medical bills.

Check to see what your health insurance deductible is. If it’s $1,350 ($2,700 for family) or more, you can make contributions to a HSA to reduce your taxable income. This year, the HSA contribution limit is $3,450 ($6,900 for a family).

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