Manage episode 290103403 series 2859084
#018 - Learn how an HSA will earn you a quick and easy return by making an eligible deposit before you file your taxes.
An HSA is like getting free money!
Don't Pay FICA or Federal Income Tax
(some states still tax your HSA deposits)
FICA = Social Security Withholding AND Medicare Withholding = 7.65% of your paycheck
Federal Income Tax Withholding = 10% to 37%
Maximum HSA Deposit in 2021
Individual - $3,600
Head of Household/Married/Family - $7,200 per year
You keep the money instead of paying Uncle Sam
$3600 x .0765 = $275
$3600x .22 = $792
$1,067 stays in your pocket! Why give it away when you do not have to? If you're a family, you'll keep even more of your hard-earned paycheck!
I've utilized the benefits of Health Savings Accounts since their inception. I prefer Lively HSA
Learn about Lively HSA here
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Open Enrollment Workshop coming late summer 2021!