Using My HSA
Here’s how I’m using my Health Savings Account (HSA)
to pay for yesterday’s tooth extraction:
- I paid the surgeon with a cash back credit card
- I’ll get a reimbursement from the HSA
- I’ll pay the credit card in full when it’s due
- 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.
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.