With tax season on the horizon, employers and their benefits teams have a timely opportunity to continue educating employees about the tax advantages of health savings accounts (HSAs), both for this year's tax returns and for future financial planning.
As your employees prepare for the April 15 tax deadline, benefits managers should be communicating regularly to remind them that post-tax HSA contributions (up to the IRS contribution limit) can reduce their tax bills and that they have until that IRS deadline to max out. Employees 55 and older can make an additional annual catch-up contribution and save even more on their taxes while investing for future medical expenses.
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