Make sure you take all your tax deductions

There are a lot of deductions you can take with a health savings account, make sure you don’t miss any.

The main purpose of your Health Savings Account is to enable you to pay for qualified medical expenses with tax-free dollars. Qualified medical expenses are defined under Section 213 of the IRS Code (See IRS Publication 502: Medical and Dental Expenses). Most people remember to pay for doctor visits and prescription drugs from their Health Savings Account (or save the receipts and reimburse themselves later), but there are many medical expenses that people simply pay for, without realizing that because they own an Health Savings Account the expense is tax deductible.

Tags: deductions, taxes

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