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Health Savings Account Arbitrage

The Health Savings Account, or HSA was introduced in 2003 and has revealed itself to be a solid choice in saving money on health insurance. Beyond the obvious saving advantage that comes from empowering consumers to pay for most of their everyday medical expenses, the HSA also has a hefty tax benefit. HSAs are free from federal tax when accumulating, compounding and distributing money (although some states, like California do tax it). Of course, the tax benefit is only when using the HSA for qualified medical expenses. After the beneficiary turns 65, non-qualified distributions are taxed at the normal tax rate, just like a traditional 401(k) or IRA.

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