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Managing the HSA establishment date

Answered by: 

Question: 
6. What is an HSA “establishment date” and why is it important?
Answer: 

HSA owners have an "establishment date" for their HSAs and the key point of the establishment date lies in that fact that HSA owners can use the HSA to pay for all medical expenses incurred after that date. At first reading, this rule appears to be simple common sense and accordingly many HSA owners do not give the date much thought.
Understanding the establishment date rules; however, can help HSA owners maximize HSA benefits. The "establishment date" rule allows HSA owners to maximize HSA tax benefits by paying for most, if not all, qualified medical expenses tax-free through their HSA, even in years when the HSA owners’ medical expenses exceed the HSA limits. Learn how in the webinar.
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Learn more about Whitney Johnson’s webinar
HAS Basics

First published on 05/21/2017

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