Congress Proposes BIG Changes to Health Savings Accounts

Congress is proposing to eliminate Health Savings Accounts (HSAs) and replace them with a Universal Savings Account (USA), a major shift that could impact how Americans save for healthcare and retirement. If passed, this change could eliminate one of the best tax-advantaged tools for medical expenses, reducing valuable tax benefits and altering long-term financial strategies. While HSAs offer tax-free growth for medical costs, the proposed Universal Savings Account may come with different rules and limitations. In this video, we’ll break down why Congress wants to make this change, how the new account would work, and what it means for your savings. Is this a better deal or a major setback? Watch to find out!

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⏰ Table of Contents ⏰
0:00 Introduction
1:10 Replacing HSA with USA
4:55 H.R.5688: Improvements to Health Savings Account
5:50 YNAB
7:47 Additional HSA Acts
11:42 Conclusion

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Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.

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