Health Savings Accounts—tax free baby!
If you enroll yourself in a high deductible health plan, you might be able to save money in a Health Savings Account (HSA). This is allows you to save money tax free that you can use on health expenses like doctor appointments, prescriptions, dentist visits, and a new pair of glasses; and the best part is if you don’t use it this year, you can save it for expenses in the future. Most employers offer these plans and the rules vary but it’s definitely something to think about. We did some number crunching and found that the average HSA contribution amount in 2017 was $2,350.