Shelly Avery Featured on the Mary Cariola Center Radio Show
In November 2024, Shelly Avery joined the Mary Cariola Radio Show to discuss the intricacies and benefits of Health Savings Accounts (HSAs). She provided insightful information on how HSAs can be a valuable tool for managing healthcare expenses.
Discussed was important considerations when deciding on an HSA:
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Eligibility: Individuals must be enrolled in a high-deductible health plan to qualify for an HSA.
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Contribution Limits: There are annual limits on how much can be contributed to an HSA. For 2024, the contribution limit is $3,850 for individuals and $7,750 for families, with an additional catch-up contribution allowed for those aged 55 and older.
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Qualified Expenses: It's crucial to understand what constitutes a qualified medical expense to avoid taxes and penalties on withdrawals.