💡 5 Common Myths and Facts About Health Savings Accounts (HSAs)

Health Savings Accounts (HSAs) have been around since 2003, but many people still aren’t making the most of them—largely due to lingering myths.

If you’re enrolled in a high-deductible health plan (HDHP), an HSA could be one of the most tax-efficient tools in your benefits toolbox—helping you cover today’s expenses and save for the future.

Here are 5 important HSA facts:
1️⃣ Triple tax advantages – Contributions are tax-free, growth is tax-free, and qualified withdrawals are tax-free.
2️⃣ Funds roll over – No “use-it-or-lose-it” rules like FSAs.
3️⃣ You own the account – It’s portable and stays with you, even if you change jobs.
4️⃣ Investment potential – Many HSAs let you invest once you hit a minimum balance.
5️⃣ Covers family expenses – Even if your HDHP doesn’t cover them directly.

And 5 myths to stop believing:
🚫 “I lose my HSA money if I don’t use it.”
🚫 “I can only use it for myself.”
🚫 “My spouse’s insurance disqualifies me.”
🚫 “I can’t use my HSA after I retire.”
🚫 “It’s only useful if I have a lot of medical expenses.”

📈 2026 HSA Contribution Limits (just announced):

• $4,400 for individuals
• $8,750 for families
• $1,000 catch-up (age 55+)

As contribution limits rise, now is a smart time to revisit your health care savings strategy. Talk with your benefits provider or HR team to see how an HSA can work for you.

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#HSA #EmployeeBenefits #FinancialWellness #OpenEnrollment #HealthCareSavings #TaxStrategy