Savings plan to pay for some health care expenses Crossword Clue

The crossword clue "Savings plan to pay for some health care expenses" with the answer "HSA" refers to Health Savings Accounts (HSAs) are tax-advantaged savings accounts designed for individuals with high-deductible health plans.

Contributions to an HSA are made with pre-tax dollars, allowing account holders to save for qualified medical expenses tax-free. The funds in an HSA can roll over from year to year, making it a valuable tool for long-term healthcare savings.

The crossword clue "Savings plan to pay for some health care expenses" with the answer "FSA" refers to Flexible Spending Accounts (FSAs) are employer-established accounts that allow employees to set aside pre-tax dollars to pay for out-of-pocket healthcare expenses.

Unlike HSAs, FSAs typically have a "use-it-or-lose-it" policy, meaning any unused funds at the end of the plan year may be forfeited. FSAs can be a great way to save on taxes while managing healthcare costs.

The crossword clue "Savings plan to pay for some health care expenses" with the answer "HRA" refers to Health Reimbursement Arrangements (HRAs) are employer-funded plans that reimburse employees for incurred medical expenses and, in some cases, health insurance premiums.

HRAs are not portable, meaning they are tied to the employer, and any unused funds may be rolled over to the following year, depending on the plan structure. HRAs provide flexibility for employees to cover their healthcare costs while offering tax advantages for employers.

The crossword clue "Savings plan to pay for some health care expenses" with the answer "IRA" refers to Individual Retirement Accounts (IRAs) are primarily designed for retirement savings but can also be used to pay for qualified medical expenses under specific circumstances.

Traditional IRAs allow for tax-deferred growth, while Roth IRAs offer tax-free withdrawals in retirement. While IRAs are not specifically intended for healthcare expenses, they can serve as a supplementary savings vehicle for individuals looking to manage their healthcare costs in retirement.