Note: This is the first of a three-part series. Look for future posts on growing your HSA funds and distributing (or spending) your HSA funds.
Health savings accounts (HSAs) are one of the most tax-advantaged accounts allowed by the IRS, and every year more people are discovering the benefits of an HSA. In addition to helping people save for current healthcare expenses, HSAs can be used to save for retirement as well.
Because HSAs provide major tax advantages to accountholders, the IRS has created certain rules that govern how accountholders can contribute to their HSAs.
The following are some of the important things you need to know about contributing to an HSA: