FSAs (Flexible Spending Accounts) – What Are They and What Are Their Benefits?
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FSAs (Flexible Spending Accounts) – What Are They and What Are Their Benefits?

What are FSAs? FSA accounts are a type of investment are used to help pay for healthcare-based expenses, similar to HSAs. Unlike HSAs, they are employer-sponsored plans meaning you can’t open one on your own. In that way, they are more comparable to 401ks, which are also employer-sponsored accounts. The equivalent to the IRA would…

HSAs (Health Savings Accounts) – What Are They and What Are Their Benefits?
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HSAs (Health Savings Accounts) – What Are They and What Are Their Benefits?

What is an HSA? HSAs are tax-deferred accounts that are meant to be used specifically for health-related expenses from co-pays to surgeries and more. It’s available to taxpayers in the United States who are enrolled in a high-deductible health plan. Unfortunately, there are some restrictions on who would be eligible for HSAs. Those not eligible…

529 College Savings Plans – What Are They and What Are Their Benefits?
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529 College Savings Plans – What Are They and What Are Their Benefits?

What are 529 College Savings Plans? There are two types of 529 plans. There are 529 college savings plans and 529 prepaid plans. Typically, 529 plans are sponsored by individual states. You can, but do not even need to use your own state’s 529 plans. These plans also do not have set contribution limits by…