HSA: Health account with a powerful wealth-building benefit
If you have access to an HSA, you can invest in it to potentially increase your wealth. That’s because contributions, earnings, and even withdrawals can be tax-exempt if certain requirements are met. For 2025, you can contribute up to $4,300 as an individual, or $8,550 per family; if you’re 55 or older, you can contribute an additional $1,000 per eligible participant. To access HSA funds without tax or IRS penalty, it’s essential that you keep your receipts for qualified medical expenses (perhaps for years or decades). I can help with some ideas for secure, virtual, long-term document storage if you need assistance.