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Stephen C. Bach CFP®
Financial Advisor
7:12 Financial LLC
309 Henry Lane
Wallingford, PA 19086
610-892-1718 (Phone/Fax/Text)
712financial@lincolninvestment.com
May/June 2025
ABCs of HSAs
Although health insurance deductibles and other out-of-pocket costs continue to rise, one good thing has come out of this recent turmoil: Health Savings Accounts (HSAs). Consider taking advantage of this tax-saving opportunity to pay healthcare bills.
Triple Tax-Free
The bold-faced headline about HSAs is they are triple taxadvantaged. Contributions are deducted from your pay pre-tax, earnings and any earnings on your investment accumulate taxdeferred and distributions for qualified medical expenses are taxfree. You can use your HSA to pay for co-payments, deductibles, prescriptions, lab work, imaging and physical therapy today, next year and even in retirement.Extra Help
The ability to roll over an HSA account balance from year to year can be especially helpful in retirement, when healthcare expenses can consume more of your budget. Beginning at age 65, you can take distributions for non-health reasons and pay income tax on the amount withdrawn. However, distributions for a non-medical reason before age 65 would be subject to income tax and an additional 20% federal tax.CONTACT US
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Advisory Services offered through Capital Analysts, or Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker/Dealer and Member FINRA/SIPC. www.lincolninvestment.com
7:12 Financial LLC and the above firms are independent and non-affiliated. Lincoln Investment is the provider of 403(b)/457 plans sponsored by employers and your advisor represents Lincoln Investment when offering these plans.
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