National HSA Awareness Day: History, Facts & Insights

This is an in-depth look at all the must-know facts about National HSA Awareness Day (2024) 🗓️ that no one tells you about. National HSA Awareness Day is celebrated on October 15th.

Among the information you’ll find below: the history of National HSA Awareness Day, activities to do on and how to observe this holiday, as well as fun facts you ought to know about National HSA Awareness Day.

📅 What day is National HSA Awareness Day 2024?

In 2024, National HSA Awareness Day is on Sunday, October 15th. It is the 3rd Sunday in October; in 2024, it is Tuesday. There are until the next observance. You also can learn all fascinating details and facts about October 15, 2023, that you might not be aware of.

National HSA Awareness Day occurs annually on October 15th to promote the importance of health savings accounts. HSA stands for health savings account, which is a specialized savings account used for future medical expenses. Unlike traditional insurance plans, individuals are responsible for managing their own HSA, and the funds remain with them even if they change jobs. Although employers may contribute to the account, the individual has full control and ownership of the money.

📜 National HSA Awareness Day History

An H.S.A. offers several benefits when it comes to taxes and saving money. The funds deposited into an H.S.A. are not taxed, even when withdrawn for qualified expenses. Some H.S.As even earn interest on the deposited funds. The money can also be invested in tax-free mutual funds or other assets. Any unused balance in the account can be carried forward to the next year. Employers can deduct their contributions to their employees’ HSAs from their taxes. Employees also benefit by contributing to their own HSAs, as it helps reduce their payroll taxes. To open an H.S.A., a person must be under 65 years old and have a high-deductible insurance plan. If their spouse also has insurance, it must be a high-deductible health plan. Those who enroll in Medicare are no longer eligible to contribute to an H.S.A. starting from the first month of enrollment.

✅ National HSA Awareness Day Facts

🔖 Gold
Gold health plans generally provide coverage for 80% of medical expenses.

🔖 Silver
Silver health insurance plans typically provide coverage for approximately 70% of an individual’s healthcare costs, leaving the remaining 30% to be paid by the insured person.

🔖 Platinum
Typically, platinum health insurance plans provide coverage for approximately 90% of an individual’s medical costs, leaving them accountable for the remaining 10%.

👍 Why Is National HSA Awareness Day Important

In the end, health equals prosperity. Humans are prone to accidents and disease, which is why it is critical to save for and invest in health care in order to be prepared for such unanticipated occurrences.

The nicest benefit of having a health savings account is that all savings and withdrawals are tax-free. This is critical in order to encourage more individuals to save without the stress of paying taxes.

Another significant advantage of HSAs is that the funds given can be invested. Even better, the profits from these investments remain tax-free.

🙂 How To Observe National HSA Awareness Day

⚡ Spread the message

⚡ Find what works for you
Saving money for healthcare is extremely important. When deciding on the right insurance plan for yourself and your family, it is crucial to take into account your previous medical history and your current medical situation.

⚡ Open an H.S.A.
No one should be denied quality health care because they cannot pay for it. Everyone has the right to learn about the advantages of opening an H.S.A. So spread the word to your closest friends and relatives.

📅 When is National HSA Awareness Day?

View all 🔗 October holidays, including 🔗 Health and other 🔗 Awareness holidays.

We will continue to update this page with new information and fun facts about National HSA Awareness Day. So be sure to check back soon.