High earners are often looking for ways to strategically save on taxes while boosting their financial outlook. Health savings accounts (HSAs) are a great option for accomplishing this because they provide an uncommon three-point tax benefit: contributions reduce your taxable income, investments within the account grow tax-free, and, as long as you spend the funds on qualified medical expenses, the withdrawals are tax-free too. Additionally, HSAs have fewer restrictions and more benefits than flexible savings accounts (FSAs).
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