But thatâs part of the problem. A large portion of the distaste for foreign doctors isnât based on an assessment of the quality of medical training abroad. Rather, itâs based on xenophobia, or racism. Few people would openly admit to such bias in a survey, but suggestive evidence is everywhere.
An HSA allows account owners to pay for current health care expenses and save for those in the future. Its first advantage is that contributions are tax-deductible, or if made through a payroll deduction, they are pretax. Second, the interest earned is tax-free.
Tax Deductions. The IRS allows taxpayers who itemize deductions to claim certain medical expenses. Deductible costs include those paid with after-tax dollars only. You canât deduct any portion of pretax medical insurance payments or HSA contributions your employer deposits on your behalf.