By Martha Brown Menard, PhD, Director of Financial Coaching, Questis Do you have too much…
If you are enrolled in or are thinking of enrolling in a High Deductible Health Plan, you should also consider opening a Health Savings Account. There are many advantages of an HSA – the most rewarding being the tax exclusions stated in section 213(d) of the Internal Revenue Service Tax Code. When used for qualified medical expenses, your HSA funds are tax-free! So what qualifies as a medical expense? We’ve come up with a few that might surprise you… Check out #3 on our list:
Chiropractor / Massage Therapy
A prescription from your doctor could qualify your visit to the chiropractor or massage therapist as tax-free. When it comes to savings – HSA’s have your back.
Check back next week for the final tip on our list of surprising places to spend your HSA funds!