What Is An HSA And How Does It Work? | Money Unscripted | Fidelity Investments

HSA Basics - An HSA is explored as a potential tool for both current and retirement financial planning [1] - HSA offers a triple tax advantage [1] - Eligibility for an HSA requires a high-deductible health plan [1] - Unlike FSAs, HSA funds do not expire [1] HSA Management & Contributions - Individuals can open an HSA independently, not solely through employers [1] - Contribution limits to HSAs are defined [1] - The amount to save for medical expenses in retirement should be considered [1] - HSA funds can be invested [1] HSA Usage & Planning - HSAs can be used for various expenses [1] - Considerations for HSA usage amounts are discussed [1] - An advisor is not necessarily needed to set up an HSA [1] - The process of opening an HSA is outlined [1] Important Considerations - The information provided is general and not legal or tax advice; consulting a tax advisor is strongly encouraged [1] - IRS resources, including Publication 969 and Publication 502, are recommended for review [1]