Exploring the World of Health Savings Accounts (HSAs

Are you ready to embark on a mind-blowing journey into the mesmerizing world of Health Savings Accounts (HSAs)? Get ready to have your financial horizons expanded and your money-saving skills elevated to a whole new level.

In this article, we’ll unveil the secrets of HSAs, revealing their advantages, eligibility criteria, funding options, and much more.

So fasten your seatbelt and get ready for an adventure that will leave you with expert knowledge on choosing the perfect HSA provider.

Let’s dive in!

Key Takeaways

HSAs offer a triple tax advantage: contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses in retirement are tax-free.
HSAs can be a lifeline during retirement when healthcare costs tend to increase.
HSAs provide flexibility and control over when and how to use savings, without required minimum distributions.
HSAs can be used as a tool for long-term retirement planning.

The Basics of Health Savings Accounts (HSAs

HSAs offer you a tax-advantaged way to save for those pesky medical expenses that have a knack for popping up when you least expect them. But did you know that HSAs can also be an excellent tool for retirement planning? That’s right, my friend! Let me give you the lowdown on the advantages of HSAs for retirement and debunk some common misconceptions along the way.

One of the biggest perks of using an HSA for retirement is the triple tax advantage. Yep, you heard me right – triple! First off, your contributions are tax-deductible, meaning you can lower your taxable income and potentially pay less in taxes. Not too shabby, huh? Secondly, any earnings in your HSA grow tax-free. Cha-ching! And lastly, when it’s time to withdraw funds for qualified medical expenses in retirement – brace yourself – it’s completely tax-free! Now that’s what I call a grand slam!

But wait, there’s more! Contrary to popular belief, HSAs are not just for young folks with no health issues. In fact, they can be a lifeline during your golden years when healthcare costs tend to skyrocket. With an HSA by your side, you can stash away funds specifically earmarked for medical expenses in retirement. And since there are no required minimum distributions like with other retirement accounts (I’m looking at you, 401(k)s), you have more flexibility and control over when and how to use those hard-earned savings.

Advantages of Health Savings Accounts (HSAs

Hey there, savvy saver! Want to dive into the wonderful world of Health Savings Accounts (HSAs)? Well, get ready because we’re about to explore the magical realm of tax benefits and long-term savings potential!

Buckle up and get ready for a whimsical journey that will have your wallet doing a happy dance in no time.

Tax Benefits of Hsas

To take advantage of the tax benefits, you can contribute pre-tax dollars to your HSA. Not only will this lower your taxable income, but it will also provide you with a savings account for medical expenses.

Here are some strategies for maximizing your HSA contributions and reducing your taxable income:

Contribute the maximum allowed amount each year (for 2021, it’s $3,600 for individuals and $7,200 for families).
Take advantage of catch-up contributions if you’re 55 or older ($1,000 extra per year).
Use payroll deductions to automatically contribute to your HSA.
Consider using funds from other accounts (like an IRA) to make additional contributions.

By following these strategies, you can build up a substantial nest egg in your HSA while enjoying the tax benefits and reducing your taxable income.

Long-Term Savings Potential

By utilizing the tax advantages and making regular contributions, you can grow a substantial nest egg in your HSA for long-term savings potential. Ah, the joys of maximizing HSA growth! It’s like planting a tiny seed and watching it grow into a mighty oak tree of financial security.

But how do you achieve such HSA mastery? Fear not, dear reader, for I shall reveal to you the whimsical and lighthearted strategies for long-term HSA savings.

Firstly, make sure to contribute regularly to your HSA. Think of it as feeding your little financial friend with tasty treats every month. The more you contribute, the faster it will grow!

Secondly, invest wisely within your HSA. Just like choosing the perfect outfit for a grand adventure, select investments that align with your long-term goals and risk tolerance.

Lastly, keep an eye on those fees! Like sneaky little leprechauns trying to steal your pot of gold, excessive fees can eat away at your HSA growth. So be vigilant and choose low-cost options whenever possible.

With these strategies in mind, go forth and conquer the world of maximizing HSA growth! Your future self will thank you for it.

Eligibility for Health Savings Accounts (HSAs

Eligibility for HSAs varies depending on factors such as your health insurance coverage and enrollment in Medicare. But fear not, my friend, for I am here to guide you through this whimsical world of eligibility requirements and contribution limits. So grab your imagination and let’s dive right in!

Here are the three key factors that determine your HSA eligibility:

Health Insurance Coverage:
You must be covered under a qualifying high-deductible health plan (HDHP). Think of it as a magical shield that protects you from medical expenses until you reach a certain deductible amount. Your HDHP must meet certain criteria set forth by the mystical powers that be. These criteria include minimum deductibles and maximum out-of-pocket limits.
Enrollment in Medicare:
Ahh, Medicare, the legendary healthcare program for our wise elders. If you’re enrolled in any part of Medicare (Part A or Part B), unfortunately, it means waving goodbye to your HSA eligibility.
Other Disqualifying Coverage:
Beware, dear adventurer! If you have any other non-HDHP health coverage such as a flexible spending account (FSA) or healthcare reimbursement arrangement (HRA), it may dim your chances of HSA eligibility.

Now that we’ve unraveled the mystery of eligibility requirements, let’s move on to contribution limits. But fear not! For I shall continue this enlightening journey with you in the next chapter – ‘How to Open a Health Savings Account (HSA).’ Are you ready? Let’s venture forth into the realm of contributing and saving!

How to Open a Health Savings Account (HSA

Now that we’ve uncovered the requirements for HSA eligibility, let’s delve into how you can open your very own HSA. It’s a magical journey filled with paperwork and forms, but fear not! I’m here to guide you through it all.

To open an HSA, you’ll need a few things: opening requirements and documentation. Don’t worry, it’s not as daunting as it sounds. Just gather the necessary documents and follow these simple steps:

Find a suitable HSA provider: Look for banks or financial institutions that offer HSAs. Check their fees, investment options, and customer service to find one that suits your needs.
Complete the application form: Fill out the application form provided by your chosen HSA provider. Remember to use your best handwriting (or typing skills)!
Provide identification: You’ll need to prove who you are, so have your driver’s license or passport handy. They just want to make sure you’re not some sneaky identity thief trying to steal healthcare savings!

But wait! There’s more! To make this process even more enjoyable (yes, I said enjoyable), let me present to you a whimsical table showcasing the documentation needed:

Documentation Needed	Why You Need It
Identification	Prove that you’re really YOU
Social Security Number	Confirm your existence in the system
Proof of Address	Show where those medical bills will go

And there you have it! With these opening requirements and documentation in hand, you’ll be well on your way to having your very own HSA. So go forth, my friend, and embrace the world of health savings accounts with open arms (and wallets)!

Funding Options for Health Savings Accounts (HSAs

To start funding your HSA, you can contribute money through various methods such as payroll deductions or personal contributions.

It’s time to put your hard-earned dollars to work and watch your health savings account (HSA) grow like a little sprout in the garden of financial wellness. But where do these funds come from? Let me enlighten you with some whimsical wisdom.

Here are three funding sources to consider for your HSA:

Payroll Deductions:
This magical method allows you to set aside a portion of your paycheck before taxes even touch it.
It’s like having a secret stash that grows while Uncle Sam looks the other way.
Simply inform your employer about your desire to fund your HSA through payroll deductions, and voila!
Personal Contributions:
If you want to be in control of how much goes into your HSA, this is the way to go.
You can sprinkle extra cash into your account whenever you please, up to the annual contribution limit.
Just remember, it’s important not to exceed those limits unless you enjoy unwanted attention from the tax man.
Employer Contributions:
Some generous employers offer a sprinkle of their own magic by contributing funds directly into their employees’ HSAs.
It’s like finding an unexpected treat in your lunchbox – a delightful surprise that helps boost your savings.

Now that you know how to fund your HSA using these enchanting methods, let’s move on and explore how to manage this mystical creature called a health savings account (HSA). Get ready for more fantastical knowledge!

Managing Your Health Savings Account (HSA

So, you’ve got this nifty Health Savings Account (HSA) all set up and ready to go. Now it’s time to dive into the fun stuff – maximizing those tax benefits and choosing which healthcare expenses are eligible for reimbursement.

Don’t worry, we’re here to guide you through the wild world of HSA tax wizardry and help you navigate the maze of eligible expenses like a true healthcare hero.

Get ready to save some money and make some wise choices – let’s do this!

Maximizing HSA Tax Benefits

If you want to maximize your HSA tax benefits, it’s important to understand the contribution limits and eligible expenses. But fear not, my friend! I am here to guide you through this whimsical journey of HSA mastery.

Let us begin by exploring strategies for maximizing HSA tax savings:

Contribute the maximum amount allowed each year. This will ensure that you take full advantage of the tax-free growth potential of your HSA investments.
Consider investing your HSA funds in low-cost index funds or other investment options with higher growth potential. This can help boost your account balance over time.
Keep track of your medical expenses and save receipts. You can use these to withdraw funds from your HSA tax-free, even if the expenses were incurred in previous years.

Now that we’ve unlocked some strategies to maximize your HSA tax benefits, let’s delve into choosing eligible healthcare expenses and discover how to make the most out of this magical financial tool.

Choosing Eligible Healthcare Expenses

When choosing eligible healthcare expenses, it’s crucial to review the IRS guidelines to ensure you’re using your HSA funds appropriately. But don’t worry, dear reader! I’m here to guide you through this whimsical journey of maximizing HSA contributions and using your funds efficiently.

Now, let’s dive into some strategies for making the most out of your HSA dollars. Take a look at this handy-dandy table below, which will surely evoke an emotional response in you as it showcases the various eligible expenses you can use your HSA funds for:

Medical Expenses	Non-Medical Expenses
Doctor visits	Gym memberships
Prescriptions	Spa treatments
Dental care	Concert tickets
Vision exams	Vacations
Physical therapy	Pet grooming

Using Your Health Savings Account (HSA) for Medical Expenses

You can use your HSA to pay for eligible medical expenses. How exciting is that? Your HSA is like a magical piggy bank, just waiting for you to dip into it and take care of your health needs.

But what exactly can you spend your HSA funds on? Well, let me enlighten you with some fabulous options:

Alternative Therapies: Did you know that your HSA funds can be used for alternative therapies too? Yes, my friend, whether you’re into acupuncture, chiropractic treatments, or even herbal remedies, your HSA has got your back (literally!). So go ahead and book that soothing aromatherapy massage or try out some mystical crystal healing sessions. It’s all covered!
Dental Expenses: Ahh, the joy of a dazzling smile! Your teeth deserve some love too, right? Luckily for you, dental expenses are also eligible for payment from your HSA. From routine check-ups to fillings and even orthodontic treatments (hello braces!), let those pearly whites shine without worrying about breaking the bank.
Prescription Medications: Need to refill those prescription meds? No worries! Your trusty HSA will have your back once again. Whether it’s allergy medication or something more serious like insulin shots, simply swipe that card and say goodbye to the dreaded pharmacy bills.

Tax Benefits of Health Savings Accounts (HSAs

Take advantage of the tax benefits offered by HSAs to maximize your savings and reduce your overall healthcare expenses. HSAs are more than just a place to stash your cash for medical emergencies. They can actually be a secret weapon for long term growth and investment strategies. It’s like having a magic potion that helps you save money while also growing it over time. Pretty cool, huh?

So, how do these tax benefits work? Well, first of all, any contributions you make to your HSA are tax-deductible. That means you get to lower your taxable income and keep more of that hard-earned moolah in your pocket. Plus, any interest or earnings on your HSA investments grow tax-free! It’s like planting seeds in a magical garden where the plants never die and the fruits keep multiplying.

But wait, there’s more! If you use your HSA funds for qualified medical expenses, those withdrawals are also tax-free. That’s right – no need to worry about Uncle Sam taking a big chunk out of what should be spent on taking care of yourself.

Now, let’s talk about the amazing power of long term growth and investment strategies with HSAs. You see, unlike other savings accounts where the interest rates may be as exciting as watching paint dry, HSAs offer you the opportunity to invest in stocks, bonds, mutual funds – basically anything that tickles your financial fancy (within certain limits). And guess what? Any gains from those investments are also tax-free! It’s like playing Monopoly but instead of fake money, you’re using real money to build an empire.

Investing Your Health Savings Account (HSA

Are you ready to take your Health Savings Account (HSA) to the next level?

Let’s dive into the exciting world of HSA investment options!

From stocks and bonds to mutual funds and ETFs, there are plenty of ways to make your HSA work harder for you.

HSA Investment Options

There’s a wide range of investment options available for HSA funds. So, you’ve got some money in your Health Savings Account (HSA), and you’re ready to not only save it but make it grow. Well, my friend, you’re in luck! HSA investment strategies are here to help you diversify your investments and get the most out of your hard-earned dollars.

Here are three options that will make your HSA dance with joy:

Mutual Funds: These little bundles of joy allow you to invest in a variety of stocks and bonds.
Exchange-Traded Funds (ETFs): Like mutual funds, but traded on an exchange like stocks.
Individual Stocks: Take control and invest in individual companies.

Now that we’ve covered the basics, let’s dive into maximizing HSA investments.

Maximizing HSA Investment

Now that you’ve familiarized yourself with the various investment options, let’s delve into strategies that will help you maximize your HSA investments.

Oh, the joy of finding ways to make those HSA returns grow!

First things first, consider contributing the maximum amount allowed to your HSA each year. That way, you’ll have more funds available for investing and reaping those sweet rewards.

Next, opt for a diversified portfolio that includes a mix of stocks, bonds, and mutual funds. This will help protect against market fluctuations while still allowing for potential growth.

Don’t forget to keep an eye on fees and expenses too – choose low-cost investment options whenever possible!

Lastly, be patient and stay focused on your long-term goals. Rome wasn’t built in a day, and neither are impressive HSA returns.

Happy investing!

Maximizing Your Contributions to Health Savings Accounts (HSAs

To maximize your contributions to Health Savings Accounts (HSAs), make sure you take advantage of the annual contribution limits. These accounts are like magical pots of gold that can grow and provide you with financial security when it comes to your healthcare expenses.

Here are some whimsical strategies for HSA growth:

Contribute consistently: Treat your HSA like a pet unicorn that needs regular feeding. Make it a habit to contribute every month or whenever you receive any extra funds.
Maximize employer contributions: If your employer offers matching contributions, consider yourself lucky! It’s like finding a leprechaun’s pot of gold at the end of the rainbow. Contribute enough to get the maximum match from your employer because hey, who doesn’t love free money?
Invest wisely: Just like a fairy godmother granting wishes, investing in HSA funds can help them grow over time. Explore different investment options and choose ones that align with your risk tolerance and goals.

By following these strategies, you’ll be on your way to maximizing your HSA contributions and ensuring they grow into a formidable treasure chest of health savings.

Now that you’ve mastered the art of contributing to HSAs, let’s move on to withdrawing funds from these magical accounts. After all, what good is all that gold if you can’t use it when needed? So buckle up as we dive into the realm of withdrawing funds from health savings accounts (HSAs).

Withdrawing Funds From Health Savings Accounts (Hsas

So, you’ve been diligently saving money in your Health Savings Account (HSA) and now it’s time to dip into those funds. But wait! Before you go on a shopping spree or book a luxurious vacation, let’s talk about the tax implications of withdrawals from your HSA.

Plus, we’ll explore what expenses are eligible for withdrawal and the dreaded penalty that awaits if you dare to withdraw for non-medical purposes.

Get ready for a wild ride through the world of HSA withdrawals!

Tax Implications of Withdrawals

Understanding the tax implications of HSA withdrawals is essential for maximizing the benefits of these accounts. So, let’s dive into the magical world of taxes and see what awaits us! Here are some important things to keep in mind:

Uncle Sam loves his fair share: When you withdraw funds from your HSA for qualified medical expenses, those withdrawals are tax-free! Yes, you heard it right, TAX-FREE! It’s like finding a pot of gold at the end of a rainbow.
Early withdrawal penalties: But beware, if you use your HSA money for non-medical expenses before turning 65, there will be consequences. You’ll have to pay income taxes on that amount plus an additional 20% penalty. Ouch!
Keep those receipts: Remember to keep all your receipts and documentation handy. If ever audited by the IRS (the ‘tax man’), having proper records will help you prove that your withdrawals were indeed used for eligible medical expenses.

Eligible Withdrawal Expenses

Don’t forget to familiarize yourself with the expenses that qualify for withdrawal from your HSA.

It’s like going on a treasure hunt, except instead of searching for gold doubloons or hidden gems, you’re on the lookout for eligible healthcare expenses. These are the magical items that can be paid for using your HSA funds without incurring any penalties or taxes.

So grab your map and let’s explore! From doctor visits to prescription medications, these are the obvious treasures that you can easily use your HSA for.

But did you know there are other hidden gems as well? Things like acupuncture, chiropractic services, and even some over-the-counter medications may also qualify.

However, beware of using your HSA for non-medical expenses! While it may be tempting to splurge on that fancy new gadget or luxurious vacation, doing so could result in hefty penalties and taxes.

Penalty for Non-Medical Withdrawals

Beware of using your HSA for non-medical expenses, as doing so could result in hefty penalties and taxes. Trust me, you don’t want the IRS knocking on your door demanding their share of your hard-earned money! So, before you even think about dipping into your HSA for that new pair of shoes or fancy vacation, consider the consequences.

Here’s why:

Penalties for non-medical expenses can be as high as 20%, leaving a dent in your savings.
You’ll also have to pay taxes on the amount withdrawn, which further eats into your long-term savings.
Remember, every dollar you withdraw now is a dollar that won’t be compounding over time and growing into a substantial nest egg.

So, keep those withdrawals focused on medical expenses only and watch your HSA flourish!

Now let’s dive into comparing health savings accounts (HSAs) to other health plans.

Comparing Health Savings Accounts (HSAs) to Other Health Plans

When comparing HSAs to other health plans, it’s important to consider the flexibility and tax advantages they offer. Let’s dive into the magical world of Health Savings Accounts and see how they stack up against their counterparts!

First, let’s talk about HSA contribution limits. Unlike traditional health plans, HSAs allow you to contribute pre-tax dollars towards your healthcare expenses. It’s like having a secret stash of gold coins that can grow tax-free! With other health plans, you’re limited in how much you can save, but with an HSA, the sky’s the limit! Well, not really the sky since there are annual contribution limits set by the IRS. But hey, it’s still pretty awesome!

Now, let’s move on to the effectiveness of HSAs for managing chronic conditions. Imagine having a trusty sidekick who helps you battle those pesky health issues day in and day out. That’s what an HSA can be for managing chronic conditions! You can use your HSA funds to pay for doctor visits, prescription medications, and even alternative therapies like acupuncture or yoga classes (they’re not just for bending like a pretzel!).

By using an HSA alongside your regular health plan, you have more control over your healthcare decisions. You get to choose which treatments work best for you without breaking the bank or relying solely on insurance coverage.

Health Savings Accounts (HSAs) for Retirement Planning

To maximize your retirement savings, consider the long-term benefits of utilizing an HSA for planning ahead. Health Savings Accounts (HSAs) aren’t just for covering medical expenses; they can also be a clever investment strategy to secure your future financial well-being. Here are some whimsical tips to help you make the most of your HSA:

Maximize Your Contributions: It’s like planting seeds in a money garden! Contribute as much as you can to your HSA each year, up to the maximum allowed by law. The more you sow now, the bigger your harvest will be when retirement comes knocking on your door.
Invest Strategically: Imagine your HSA as a magical treasure chest filled with golden opportunities. Explore different investment options and choose wisely. From stocks and bonds to mutual funds and even real estate investment trusts (REITs), there’s a whole world of possibilities waiting for you!
Watch Out for Fees: Keep those pesky fees from nibbling away at your hard-earned savings! Look for HSA providers that offer low-cost investment options and steer clear of excessive administrative fees. You want every penny possible going toward building that nest egg.

By following these imaginative strategies, you’ll be well on your way to maximizing the potential growth of your HSA and setting yourself up for a comfortable retirement full of joyous adventures.

Now, let’s dive into some helpful tips for choosing the right health savings account (HSA) provider… because finding the perfect fit is like discovering a unicorn in a haystack!

Tips for Choosing the Right Health Savings Account (HSA) Provider

Finding the right HSA provider is essential for maximizing your retirement savings and ensuring a smooth financial journey in the future. Think of it like choosing a travel companion for your money. You want someone reliable, trustworthy, and adventurous enough to explore new investment strategies with you.

When it comes to maximizing HSA contributions, look for an HSA provider that allows you to contribute as much as possible. Some providers have limits on how much you can put in each year, while others offer more flexibility. You want to be able to stash away those hard-earned dollars without feeling like you’re hitting a brick wall.

But remember, it’s not just about saving money now; it’s also about growing that money over time. That’s where HSA investment strategies come into play. Look for a provider that offers a variety of investment options such as mutual funds or stocks. This way, your money has the potential to grow faster than if it were sitting idly in a regular savings account.

Now, let’s talk fees. No one likes paying unnecessary fees when they’re trying to save for retirement. So make sure you choose an HSA provider that has reasonable fees or even better, no fees at all! You don’t want these pesky charges eating away at your hard-earned savings.

Lastly, customer service is key. Find an HSA provider that has friendly and knowledgeable representatives who can assist you whenever you have questions or need help navigating through the world of HSAs.

Common Misconceptions About Health Savings Accounts (Hsas)

Don’t let these common misconceptions about HSAs prevent you from taking advantage of their benefits. While there may be some myths floating around, it’s time to set the record straight and debunk those HSA-related misconceptions once and for all.

Here are a few common misconceptions about HSA contributions that we’re going to clear up:

Misconception 1: You can only contribute a small amount to your HSA each year. Contrary to popular belief, you can actually contribute quite a substantial amount to your HSA annually. In fact, for 2021, the maximum contribution limits are $3,600 for individuals and $7,200 for families. So go ahead and save big!
Misconception 2: You have to use up all your contributions by the end of the year or lose them. Nope! With an HSA, any unused funds roll over into the next year. That means you don’t have to rush through medical expenses just because the clock is ticking.
Misconception 3: Only high-income earners can benefit from HSAs. This one couldn’t be further from the truth! Anyone who has a high-deductible health plan (HDHP) is eligible for an HSA, regardless of their income level. So don’t let financial status hold you back from reaping the rewards.

Now that we’ve debunked some common misconceptions about HSA contributions, let’s move on to debunking some HSA investment myths:

Myth 1: Investing in an HSA is risky business. Not true! Just like with any investment account, there are risks involved but also potential rewards. By investing your HSA funds wisely and diversifying your portfolio, you can make those dollars work harder for you.
Myth 2: You need expert knowledge to invest in an HSA successfully. False! While having some knowledge about investing is helpful, you don’t need to be a financial guru to make smart investment decisions with your HSA. With a little research and guidance, you’ll be on your way to growing those funds.
Myth 3: You can only invest in limited options within an HSA. Wrong again! Many HSA providers offer a wide range of investment options, including stocks, bonds, mutual funds, and even ETFs. So don’t limit yourself – explore the possibilities!

Now that we’ve debunked these myths together, it’s time for you to embrace the true potential of HSAs. Don’t let misconceptions hold you back from enjoying all the benefits they have to offer – take charge of your health and finances today!

Frequently Asked Questions

Can I Use My Health Savings Account (Hsa) to Pay for Over-The-Counter Medications?

You can use your HSA to pay for over-the-counter medications, but there are pros and cons. On the bright side, it’s convenient and tax-free. However, you can’t use it for every OTC item. Choose wisely!

Are There Any Penalties for Withdrawing Funds From My HSA for Non-Medical Expenses?

If you withdraw money from your HSA for non-medical expenses, be prepared for penalties. Those sneaky fees can put a dent in your savings. So, stick to medical stuff and keep the peace!

Can I Contribute to an HSA if I Have a High-Deductible Health Plan Through My Employer?

You can totally contribute to your HSA even if you have a high-deductible health plan through your employer. It’s like adding extra sprinkles to your ice cream sundae – more money for medical expenses!

What Happens to the Funds in My HSA if I Switch Health Insurance Providers?

When you switch providers, fear not! Your HSA funds stay with you like a loyal companion. Just keep contributing and watch those health savings grow, no matter who’s insuring your well-being!

Are There Any Limitations on the Types of Medical Expenses That Can Be Paid for Using an Hsa?

There are some limitations on the types of medical expenses you can pay for with an HSA. But don’t worry, as long as you’re eligible to contribute through your employer plan, you’ll have plenty of options!

Conclusion

Well, congratulations on making it through this whirlwind tour of Health Savings Accounts (HSAs)!

You’ve learned the basics, explored the advantages, and discovered how to open and fund your very own HSA.

But here’s a little nugget of information that might just blow your mind: Did you know that over 30 million Americans are currently enrolled in HSAs? That’s right, folks!

It seems like more and more people are hopping aboard the HSA train, and for good reason.

So why not join in on the fun? Start saving for your health today with an HSA – it’s like having a magical money jar that grants all your healthcare wishes!