Alaska Prepper
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SPEND THE $$ IN YOUR "HEALTH SAVINGS ACCOUNT" BEFORE YEARS END or YOU MAY LOSE IT
🕑 Added 2020-10-01 22:41:31 +0000 UTCSPEND THE $$ IN YOUR "HEALTH SAVINGS ACCOUNT" BEFORE YEARS END or YOU MAY LOSE IT. Thank you for joining me today, Many Blessings to all of you and your Families.
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Comments
A "Health Savings Account" is not the same as a Flex Account. The Health Savings Account, or HSA, is YOUR MONEY. It is like a special form of an IRA. You can use the funds for qualified health expenses tax free and without any penalty. Any balance in the account when you turn age 65 "turns into" a regular IRA account, and you can then withdraw funds for any use you wish. That money will be included in your gross income and may be taxable. A Flex account must be used up by the next year on a certain day...I believe it is February 28 of the following calendar year.
