These 2 HSA Misconceptions Could Cost You a Lot of Money

These 2 HSA Misconceptions Could Cost You a Lot of Money

If you're enrolled in a high-deductible health insurance plan, it definitely pays to look at opening and funding a health savings account, or HSA. As is the case with a traditional IRA or 401(k) plan, the money you contribute to an HSA goes in on a pre-tax basis. Withdrawals are also tax-free when used for qualified healthcare expenses, similar to how Roth retirement plans work.