August 15

How I’m Using My Health Savings Account


Using My HSA

Here’s how I’m using my Health Savings Account (HSA)

to pay for yesterday’s tooth extraction:

  1. I paid the surgeon with a cash back credit card
  2. I’ll get a reimbursement from the HSA
  3. I’ll pay the credit card in full when it’s due

The results?:

  • I got a tax deduction when I put money in my HSA
  • My HSA distribution will be tax-free
  • I didn’t have to pay tax on my HSA earnings
  • Plus, I get a little bit of cash back...

...and I won’t pay any interest to the credit card company.

Fringe Benefits

Health Savings Accounts are just one of the fringe benefits that we consider when we're tax-planning with small business owners.

Planning for fringe benefits can be almost fun. Learn more about how we start new clients with a comprehensive planning and coaching process by clicking this link.


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