SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Joe Jaspers, CFP®
Vice President, Wealth Management
Carolinas Telco Capital Advisors
Located at Carolinas Telco FCU
9813 South Blvd, Suite 101
Charlotte, NC 28273
Phone: 704-391-5600
Toll Free: 800-622-5305, ext. 2608
Fax: 704-556-1652
Email: joe.jaspers@lpl.com
March/April 2024
HSA Contributions Offer Tax Benefits
When you’re covered under a high deductible health plan (HDHP), any contributions you make to a Health Savings Account (HSA) by the April 15, 2024 tax filing deadline can be deducted.
Triple Tax Benefits
Pre-tax dollars are invested based on your preferences. Account growth and withdrawals to pay qualified medical expenses are also tax-free.
HSA Contribution Limits
For 2023, contribution limits are $3,850 for individuals and $7,750 for families. Those limits increase to $4,150 and $8,300, respectively, for 2024. Individuals 55 and older can contribute an additional $1,000.Let It Ride
You don’t have to request reimbursement for medical expenses in the year they occur. If you save your receipts, you can submit them for a lump-sum distribution in the future.Save for Future Care
By contributing the maximum amount to an HSA and allowing the account to grow throughout your working years, you could accumulate substantial assets to help pay for long-term care should you need it in the future.Name a Beneficiary
Designate a beneficiary to receive any funds remaining in your HSA when you die. If you name your spouse, the account remains an HSA for his/her benefit. If you name someone other than a spouse, the HSA ends with your death. The account's fair market value then becomes taxable income to the beneficiary, less qualified medical expenses paid on your behalf.Talk to your financial and tax professionals for more detailed information.
524658-2
CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:
The sender and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.