IRS Raises Health Savings Account Contribution Limits

The IRS and Department of Treasury have elevated the ceiling for contributions to tax-deductible health savings accounts. This move will likely increase the growing popularity of HSAs as a means to reduce health insurance costs. The IRS and Department of Treasury have elevated the ceiling for contributions to tax-deductible health savings accounts. By increasing maximum [...]

Using a Health Savings Account to Pay for Alternative Medicine

Americans spend over $30 billion each year on complementary and alternative therapies, mostly out of their own pocket. That is because few health insurance plans cover expenses like homeopathy, acupuncture, or Chinese medicine. But if you own a Health Savings Account, these expenses are 100% tax deductible.