Today is HSA Day, a day created to promote the benefits of HSAs!  As HSA enthusiasts, we are happy to join in on the celebration with some fun facts about HSAs:

• The HSA provisions in the tax Code first became effective for tax years beginning in 2004.
• As of the end of 2024, it is estimated that there are almost 40 million HSAs in the U.S., with assets totaling $147 billion.
• HSAs have a triple tax benefit (at the federal level):
  • Employees can make pre-tax contributions through payroll or deductible contributions outside of payroll and employers can make tax-free contributions;
  • Earnings are tax-free; and
  • Withdrawals for medical expenses are tax-free.
• Employees own their HSAs and can take them with them when they change employers or retire.
• Employees can use their HSA funds now or save the money for retirement.
• To be eligible to contribute to an HSA, an individual must be covered by an HSA-compatible HDHP and have no other disqualifying coverage.
• The One Big Beautiful Bill Act made recent changes to the HSA rules, effective in 2026. Read our alert here.

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