Ep 50: How to Leverage Health Savings Accounts (HSAs) for Long-Term Client Success

Financial Advisors Want to Know: How to Leverage Health Savings Accounts for Long-Term Client Success - Ep. 50

Welcome to the Financial Advisors Want to Know Podcast, I’m Catherine Tindall a CPA with Dominion where our focus is helping financial advisors navigate income tax planning and compliance for their firms.

Kelley Long is a financial wellness coach, writer for the Journal of Accountancy, narrator on the Calm app and podcast host with a particular passion for HSAs and financial wellness in the workplace.

5 Episode Takeaways:
HSAs Are a Versatile Planning Tool: Health Savings Accounts (HSAs) offer triple tax advantages—tax-free contributions, growth, and withdrawals for qualified expenses—making them a powerful financial tool for advisors and their clients.

HSAs Are Portable: Unlike other workplace benefits, HSAs belong to the individual, not the employer. Clients can move HSA funds between providers or manage investments for better returns.

Medicare and HSAs Have Complex Interactions: Once clients enroll in Medicare, they can no longer contribute to an HSA. Advisors should help clients plan for this transition, especially with retroactive Part A coverage.

HSA Contributions and Withdrawals Offer Flexibility: Clients can reimburse themselves for medical expenses incurred at any time after the HSA was established, even years later, allowing for strategic use of funds.

HSAs Are Key for Retirement Healthcare Planning: With growing healthcare costs, HSAs can serve as an alternative to long-term care insurance, helping clients cover medical expenses tax-free during retirement.

Connect with Kelley: 
https://www.linkedin.com/in/kelleyclong
https://www.financialblisscoach.com/
https://open.spotify.com/show/2TAmJt7Tqn5IJ1Omujstx2
https://podcasts.apple.com/us/podcast/financial-bliss-with-kelley-long/id1673595197
https://www.calm.com/app/program/FH_RskZVUE

Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/

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Contact Catherine's Team:
admin@dominiones.com

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