HSA or Health Savings Accounts are used to reimburse employees for any health-related costs that are mentioned and outlined by their employers.
Before you attempt to reimburse yourself, you need first to ensure that whatever expenses you wish to be compensated for are covered by your employer. For instance: dental or vision expenses.
Advantages of HSA Reimbursement?
No need to pay taxes for any money deposited in HSA
No need to pay taxes for withdrawing cash from HSA
Earn tax-free interest.
It doesn't expire and rolls over yearly.
It acts as a savings account; after you are 65, you can use it for any reason.
