HSA News for January 6, 2025
HSA news is compiled weekly by Mr. HSA, Roy Ramthun.
News from Washington
Trump Taps Long-Time Tax Lobbyist Ken Kies for Key Treasury Role
President-elect Trump announced that he will nominate Ken Kies, a long-time tax lobbyist in Washington, DC, to be Assistant Secretary for Tax Policy. Kies will serve as the senior advisor to the Secretary of the Treasury, and will be responsible for analyzing, developing, and implementing Federal tax policies and programs.
Compliance Corner
Ask the Hammer: HSA Contribution Rules & Navigating Medicare Enrollment Changes
When we think about IRA contributions, there's one contribution amount when you're under 50 and another contribution amount when you're 50 or over. But when it comes to HSAs, the contribution limit is generally determined on a monthly basis. You also need to keep in mind that you can't make a contribution to your HSA once you're enrolled in Medicare.
Market Trends
2025 Employee Benefits & Workplace Predictions: Health Care Costs
Health care costs have always been a concern for both employees and employers. Benefits pros are constantly thinking about how to save money for employers while premiums continue to rise. It's a battle, but a battle worth fighting. Industry leaders share their thoughts, comments, and concerns about rising health care costs and how it will affect their 2025.
HSAs & Retirement
How to Use an HSA as a Tool for Retirement Savings
They’re often overlooked but HSAs provide a wealth of tax benefits and also bring flexibility to your retirement planning. It’s essential to learn about all the ways that your HSA can make a big difference in how you strategize for retirement, especially considering your long-term health needs.
Here's What Gen X Should Know About Retirement
Gen X includes people of varying incomes and wealth. However, all face the same three retirement pitfalls -- risk, fees and taxes. To avoid these stumbling blocks, here’s what Gen X should know about retirement.
The Best Types of Retirement Accounts for Millennials to Open This Year
With about 25 to 40 years left before reaching retirement age, Millennials have a prime opportunity to save for retirement and maximize their investments. But it’s important to choose the right type of retirement accounts that will work well for your age and retirement goals. Several types of accounts can help you maximize your retirement funds.
Maximizing Your HSA
Health Savings Accounts Offer a Rare Triple Tax Break. Here’s What to Know
Maximizing your HSA contributions can make sense because HSAs offer a rare triple federal tax break. You can invest the money in your HSA for growth, and the balance can be rolled over year after year, making it a powerful potential supplement to other retirement plans. Although HSAs can be used any time to pay for medical costs, many HSA owners pay those expenses out of pocket so their accounts can continue to grow.