Health Savings Account – HSA Rules and Limits UPDATED for 2022

Is a Health Savings Account a good option for you?

And if you have one, are you maximizing the benefits of it?

In this article, I’m going to cover the positives and negatives of HSA’s. And then I will reveal the biggest mistake that 95% of HSA owners make. And finally, I’ll share my own personal strategy in how to supercharge one of the best features of an HSA. This was from my second article on this website.


And I’ve noticed it’s been starting to get some interest now that everyone is looking into their healthcare options for the upcoming year. So, I thought I would edit and update some of the information that is specific for 2021, and add some information from another article I did on how the CARES Act enhanced not only HSA benefits but also HRA’s and FSA’s.

if you use it the right way.


And I’m going to show you how to do that…so stay tuned! If you’re wondering what an HSA is, let’s first talk about what it isn’t. Many people confuse an HSA with a Flexible Spending Account, or FSA, which is an account run by your employer where you can put aside pre-taxed money for healthcare expenses with the understanding that you have to use that money for that year—


It’s a use it or loses it account and there can be a lot of headaches with this inaccurately planning how much expenses you will incur in an upcoming year. A Health Savings Account is very different in that you actually own the account and can take the money with you if you leave your job.


Also, it’s not use it or lose it account—your money can roll over from year to year without any penalty. And another exciting difference between an FSA and an HSA is that you can invest the money of your HSA, which is not an option for an FSA; we’ll be talking much more about this in a little bit.


Now if you’re considering signing up for an HSA, you also have to sign up for a qualifying high deductible health care plan to be eligible. Update time! For 2021, the minimum deductible for a high-deductible health care plan is $1,400 for an individual and $2,800 for a family.



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